The business practice of hiring a third-party to perform certain business services or tasks has gained popularity in the most recent years. As we have seen this trend growing throughout the years, we have created a specific set of services for business outsourcing.

Outsourcing is an efficient cost-cutting measure that many businesses use to increase profits and efficiency. It is standard practice that certain job functions are sent outside the organisation rather than performing them in-house as this is a way to reduce overhead, HR headaches and payroll costs. This cost-cutting measure has brought significant changes throughout the years in the organisational chart of a company and changed the way a company operates.

This is because when businesses outsource certain functions, they can free up resources and valuable time that can be redirected to other business projects. By farming out tasks, one tends to gain access to expertise and specialised talent, therefore enhance productivity. This is what happens when one outsourcing business services to Accounting Services. Your business goals become ours, and we share our expertise with you, providing you peace of mind and added value for your firm.

The business outsourcing services include:

Administration Services

Anything related to office administration work can be outsourced to Fairwinds Management Limited, no matter if it is virtual administration services or at your office premises. Whether it is on a long-term contract, or a short-term period to remove a load from your current staff, or to cover for staff absence for a limited period of time, Fairwinds Management Limited can assist with administration and back-office services.

Accounting Services

Anything related to numbers, we got you covered, from bookkeeping to accounting, VAT returns and VAT compliance, tax returns, management accounts, profit and loss and financial reporting. Our team is made up of qualified accountants and accounts executives who can handle all your accounting needs.

Payroll and HR Services

Payroll and certain HR tasks can be easily outsourced to Fairwinds Management Limited and are handled according to the local legalisations. On a monthly basis we submit the FS5 form to the Commissioner for Revenue (CfR) for the declaration and payment of the tax, SSC/NI and maternity leave trust fund contributions. At end of year, we handle all statutory reporting such as the annual Statement of Earnings (FS3) of all employees, issued individually to them showing the yearly gross salary, taxes and social security payments, and the Annual Reconciliation Statement (FS7) which shows the monthly taxes, social security contributions and maternity leave trust fund contributions due and the payments made to the Department. Furthermore, other HR services we offer are handling all employment commencement and terminations forms with Jobsplus and the handling of Third-Country Nationals work permits.

Watch our informative video about Business Outsourcing in Malta here.