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Audit and Compliance ConferenceSETTING THE STANDARDS
Crawford TempleProfessional Passport
What’s in a name?
Audit and Compliance ConferenceSETTING THE STANDARDS
Professional Passport
• Largest Independent Specialist Compliance Assessor• 20 Approved Umbrella Companies• 14 Approved Accountancy Service Providers
• We provide the ‘due diligence’ appeal for our Recruitment Company members
• Our Recruitment Company members have £5,000,000 insurance against MSC Debt Transfer Liabilities
• Recruitment Company members can provide their contractors free access to our website
Audit and Compliance ConferenceSETTING THE STANDARDS
Professional Passport Jobs
• Circa 20,000 active jobs
• Tens of thousands of applications to recruiters every month
• Paid for job sites now put their jobs on the site to benefit from our traffic volumes
• Linked with all the main multi-posters
• FREE for recruitment companies to post
Audit and Compliance ConferenceSETTING THE STANDARDS
What’s in a name?
Audit and Compliance ConferenceSETTING THE STANDARDS
Onshore and Offshore Employment Intermediaries Summary
What is an umbrella
Planning and Actions
Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore Employment Intermediaries Consultation
Key Facts
• Final details are still to be confirmed
• Recruitment Companies will be held liable for tax if they supply workers who use offshore arrangements
• Significant reporting requirements placed on recruitment companies
Audit and Compliance ConferenceSETTING THE STANDARDS
Onshore Employment Intermediaries Consultation
Key Facts
• Final details are still to be confirmed
• Recruitment Companies will be held liable for tax if they supply self-employed workers who are not self-employed
• Significant reporting requirements placed on recruitment companies
Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore and Onshore Employment Intermediaries Consultation
HMRC has confirmed that:
• The final legislation will make it clear that Umbrella Companies and PSC’s are outside the scope of the legislation
• There will be an appeals process where ‘due diligence’ can be demonstrated
Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore and Onshore Employment Intermediaries Consultation
Conclusions
• Recruitment Companies need to know how their workers are operating
• Cannot rely on light-weight questionnaires• Ignore company assurances and examine the facts
• Evidence your ‘due diligence’ process
• Build systems to meet reporting requirements
Audit and Compliance ConferenceSETTING THE STANDARDS
What’s in a name?• Many generic labels are given to intermediaries
• Umbrella
• Pay day by pay day model
• Personal Tax Relief model
• Personal Service Umbrella
• One Man Umbrella
• Self-Employed Payment Intermediary
• Employment Intermediary
• What is important are the facts of the arrangement
HMRC will always consider the actual facts of the arrangements NOT the model/scheme the company says it is operating
Audit and Compliance ConferenceSETTING THE STANDARDS
HMRC does NOT kite-mark schemes and does NOT provide
generic advice that a ‘scheme’ or ‘model’ is compliant
• Common claims of compliance• We have leading counsel’s opinion
• HMRC has agreed our model is compliant
• HMRC will not pursue you or your end client for arrears should they arise
• Bold statements by the promoters are no guarantee
You must know the facts and demonstrate the steps you took to establish them
Buyer Beware!
Audit and Compliance ConferenceSETTING THE STANDARDS
Umbrella Definition
An umbrella company is a company that employs workers on an overarching employment contract to be engaged at a series of temporary workplaces through a range of temporary assignments.
All payments have full PAYE applied and are subject to the National Minimum Wage.
Audit and Compliance ConferenceSETTING THE STANDARDS
Overarching Employment
Audit and Compliance ConferenceSETTING THE STANDARDS
Relationships
Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore and Onshore Employment Intermediaries Consultation
Actions
• Robust Provider Due Diligence
• Design internal processor• Outsource process
• Build systems to meet reporting requirements
Audit and Compliance ConferenceSETTING THE STANDARDS
Actions
Provider Due Diligence – Professional Passport
• Current Providers
• Review Approved Providers
• Create PSL
• Join Professional Passport to benefit from £5,000,000 Debt Transfer Insurance
Audit and Compliance ConferenceSETTING THE STANDARDS
Actions
Watch out for final legislation for exact detail on:
• Appeals Requirements
• Reporting Requirements
• Liabilities
Audit and Compliance ConferenceSETTING THE STANDARDS
“If you think compliance is expensive –
try non-compliance.”
Former U.S. Deputy Attorney General Paul McNulty
Audit and Compliance ConferenceSETTING THE STANDARDS
Crawford Temple
0118 988 803407881 511345
https://itunes.apple.com/gb/app/pp-jobs-hd/id743707910?mt=8
http://jobs.professionalpassport.com/jobboard/purchase/order1.asp?o=1