Introduction:
Outsourcing has become a popular business strategy. It means handing over your work responsibilities to another company or enterprise. The outsourcing companies then work on your behalf and get your work done. Sometimes, companies just distribute a department’s work instead of outsourcing everything they deal with. There are some important reasons why companies hand over their work to other entities. Sometimes, crucial resources are not available at the place where you are operating. Hence, you need to have people at different places that can perform that particular work.
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There are almost 4.5 million private businesses in the UK. They are of such a small size that they do not need to hire any extra staff and they are dealing with every task one-handedly. It is the most popular choice in the UK to run your payroll with a few employees (if required). According to HMRC, there are some certain guidelines to become an employer of small size business such as:
The VAT is a value-added tax levied on every stage of the supply chain. It is a consumption tax from the production of goods to the distribution of these goods to the end consumers. Value-added tax is imposed on the cost of the product. The user pays this tax only on the cost price of the product except for those materials which are already been taxed and used in production. 160 countries around the world use value-added tax and it is very commonly used in the European Union. For the business community, this tax is regressive. They are of the view that this tax imposes bureaucratic burdens on the corporations. It creates an economic barrier for the low-income producers but its supporters say that it is far better than the income tax and sales tax as it gives direct revenue to the government without directly contacting the public wealth. Among all the fat industrial states of the world, the US is the one who does not levy this tax.
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