GroConsult Management Consortium’s Post

Cost Considerations When Using an EOR While the services provided by an Employer of Record can be invaluable, businesses must consider the costs associated with using an EOR. Typically, EOR services involve a flat fee or a percentage of the employee’s salary, which covers administrative tasks such as payroll, tax filings, and compliance management. This cost can vary depending on the provider, the country in which the employee is located, and the complexity of local labor laws. However, the costs associated with setting up a legal entity in a foreign country and managing international employment can far outweigh the fees of an EOR. Businesses that choose to go it alone face significant expenses, including legal fees, payroll software, and HR personnel to manage compliance. Partnering with an EOR provides a cost-effective alternative that allows businesses to expand quickly without incurring these overhead costs. In the long term, the cost of using an EOR can be seen as an investment in compliance and operational efficiency. By outsourcing employment tasks to an expert, businesses can avoid costly mistakes and focus on scaling their operations.

Why are more and more recruitment agencies asking for their payroll companies to be SafeRec accredited? What are the benefits to you, as a recruitment agency using a payroll company like us, that have a SafeRec accreditation? * You will get full access to a Due Diligence Report conducted on us, the Umbrella Company at no cost. You can log in to SafeRec's website and request a due diligence report on any certified umbrella for free (5 minutes process) * You will receive a monthly audit report confirming the following: - Any contractor you payroll through us, their payslip has been audited - Taxes have been accurately calculated - Your contractors taxes have been properly disclosed to HMRC - Taxes have been correctly paid to HMRC, ensuring zero tax liability for the agency's business, their workers, their clients, or their client's clients If you want any further information or would like to add a new provider to your PSL who is 100% compliant, then give me a call 😊

Expanding globally? Here are 12 critical questions to consider when evaluating global payroll providers. Global businesses face significant challenges in international payroll processing, including time zones, language barriers, and evolving regulations. In markets like Australia, navigating complex tax laws, superannuation requirements, and frequent regulatory updates can add additional layers of complexity. Global payroll providers offer solutions by ensuring compliance, enhancing efficiency, and optimizing costs. However, selecting the right provider is crucial for your success. Discover the key questions you need to ask when hiring a global payroll provider: https://lnkd.in/gcV3dKts #vistra #progresswithoutfriction #vistracorporatesolutions

🚨 Alert: Ghost Payroll Schemes Threaten Recruitment Industry Our own Matt Fryer, Managing Director of Brookson Group, a People2.0 company, weighs in on this critical issue: "Both contractors and recruiters should be on their guard to avoid getting involved in a supply chain involving one of these tax avoidance schemes as they could be storing up a big tax bill and reputational damage further down the line." Read the full article to learn about: Types of ghost payroll schemes Red flags to watch out for Potential consequences for agencies and contractors Steps to protect your business Stay informed, stay compliant. Read more: https://hubs.ly/Q02K-G-Q0 #RecruitmentIndustry #PayrollCompliance #WorkforceManagement

Cost Considerations When Using an EOR While the services provided by an Employer of Record can be invaluable, businesses must consider the costs associated with using an EOR. Typically, EOR services involve a flat fee or a percentage of the employee’s salary, which covers administrative tasks such as payroll, tax filings, and compliance management. This cost can vary depending on the provider, the country in which the employee is located, and the complexity of local labor laws. However, the costs associated with setting up a legal entity in a foreign country and managing international employment can far outweigh the fees of an EOR. Businesses that choose to go it alone face significant expenses, including legal fees, payroll software, and HR personnel to manage compliance. Partnering with an EOR provides a cost-effective alternative that allows businesses to expand quickly without incurring these overhead costs. In the long term, the cost of using an EOR can be seen as an investment in compliance and operational efficiency. By outsourcing employment tasks to an expert, businesses can avoid costly mistakes and focus on scaling their operations.

🚨 Alert: Ghost Payroll Schemes Threaten Recruitment Industry Our own Matt Fryer, Managing Director of Brookson Group, a People2.0 company, weighs in on this critical issue: "Both contractors and recruiters should be on their guard to avoid getting involved in a supply chain involving one of these tax avoidance schemes as they could be storing up a big tax bill and reputational damage further down the line." Read the full article to learn about: Types of ghost payroll schemes Red flags to watch out for Potential consequences for agencies and contractors Steps to protect your business Stay informed, stay compliant. Read more: https://hubs.ly/Q02K-vyQ0 #RecruitmentIndustry #PayrollCompliance #WorkforceManagement

Legislation of #umbrella companies is coming and recruitment agencies will take up responsibility for ensuring any payroll providers they engage are making and processing the correct tax deductions from worker payslips. Thorough due diligence is more important than ever, but this burden is not one that recruitment businesses need to face alone.    It is the remit of the Payroll Compliance Authority (PCA) to identify rogue providers and those payroll companies that fully comply with all employment and tax legislation via a forensic assurance audit. This includes an audit of a company’s organisational structure, internal processes and financial procedures independently carried out by a big four accountancy firm.    Read more about the PCA here: https://lnkd.in/evPMhQQA  

With the constant changes in employment and tax legislation, and more to come in the October Budget, it's no wonder businesses are feeling overwhelmed. In this complex environment, and with a shortage of skilled talent, you need a trusted partner to work alongside your team, developing straightforward processes and practical strategies to meet your business needs. Pendragon PEO is here to support you. While still relatively new in the UK, PEO (Professional Employer Organisation) is widely used in the United States and growing in popularity in Australia. A PEO acts as an outsourced partner for businesses (the End User), providing comprehensive Employment, HR, and Payroll solutions. This allows businesses to offload key employment functions such as: → HR support and Employment Contracts → ID, Right to Work, and Referencing checks → Payroll management → Employer of Record → Employee Statutory Rights → Workplace pension auto-enrolment management With years of experience helping UK and International businesses outsource employment, HR, and payroll, we employ your workers and employees whilst managing the complexities of compliance. Unlike co-employment or dual employment models, often marketed in the UK as VAT-avoidance schemes, Pendragon PEO offers a single-employer solution that applies VAT correctly, in full compliance with VAT legislation and GLAA rules. This single-employer model ensures simpler, fairer, and safer employment for workers—without any fees charged to them. The End User covers the employment costs and our fees whilst Pendragon PEO seamlessly manages those important processes that keep your business compliant. Get in touch to speak to our PEO team today! — NOTE: This is not an umbrella payroll solution. 📞 03300554666 ✉️ hello@pendragonglobal.com 🌐 www.pendragonglobal.com #PEO #PAYE #UK #International #Legislation #Employment #hiring #law #talent

A new example on how VISTRA can help on your expansion and remove friction. #progresswithoutfriction #borderlessbusiness #GlobalPayroll #NominaGlobal #GlobalExpansion #PayrollManagement #VISTRA #MulticountryPayroll

If you have to manage payroll in different countries, we recommend that you read this article with the experience of one of our clients. At VISTRA we can help you manage this process, which can be very complex. #GlobalPayroll #NominaGlobal #GlobalExpansion #PayrollManagement #VISTRA #MulticountryPayroll