The Payroll Compliance Authority (PCA) is pleased to welcome payroll supplier Core Finance Management as a newly accredited member after the firm successfully completed a forensic assurance audit comprising more than 150 elements to demonstrate that it is operating in compliance with all relevant legislation.  

The PCA audit, undertaken and administered by global accounting firm BDO, is designed to provide a comprehensive overview of a payroll company's organisational structure, operational procedures and financial processes to ensure that they all comply with current UK employment and tax legislation. For Core Finance Management, this included scrutiny and analysis of the firm's three payroll models, namely Umbrella, CIS (Construction Industry Scheme), and PEO (Professional Employment Organisations). 

Paul Newsham, CEO of the PCA, says: "We are delighted that Core Finance Management has successfully completed the audit process, demonstrating that the firm is operating in a fully compliant and ethical way and the business can now promote itself with a green tick, accredited by the PCA.  

"The accreditation process does not end here. By seeking membership with the PCA, the team at Core have committed to regular and ongoing checks to demonstrate continued compliance. This commitment sets them apart as a provider in the outsourced payroll industry." 

What accreditation means to Core 

Core Finance Management was founded in 2017 and specialises in providing payroll services for workers in the healthcare and construction sectors, without being restricted to these industries. Compliance has always been a priority for the firm, and its current growth strategy has made independent verification even more essential for the business as it scales.  

Co-founder and Head of Sales at Core, Lauren Baker, explains: "We're thrilled to have been awarded the accreditation by the PCA, and the fact that membership comes through such a respected accountancy firm shows that we're fully accountable, and not just once a year but at all times.  

"As a firm, we're in a period of growth to expand our offering and compete with bigger players in the market. We're bringing in more people to support this strategy and are currently strengthening all our teams. As we grow, the number of contractors we look after grows, and we need to make sure that we have the right process in place for every single person. We want to be accountable; we want to be checked. 

"The rigorous testing we went through proves that we know what we're doing, that we're doing it right, and that we care about the workers we look after. It's important to us that their employment rights are protected and that they get a fair deal through Core. 

"Accreditation with the PCA also sets us up ahead of umbrella company regulation coming in 2026, so that recruitment firms can be assured that we are an honest and fully compliant business to partner with." 

About Core Finance Management 

The origin of the umbrella company's name 'Core' is representative of the firm being at the core of its clients' operations and that the payroll supplier will grow with them. 

Lauren says: "We operate at the heart of the businesses we work with and have collaborated with a lot of companies from their infancy, supporting them as they grow and expand. Most of our clients are SMEs, but we balance this out by also working with a number of larger companies that have upwards of 100 workers on their payroll. 

"We set up Core with a focus on key sectors that are involved with IR35, because carrying out IR35 assessments for clients is a key part of our offering. We operate on an approximately 50/50 split working with recruitment firms and directly with end clients, which is a good balance for us." 

Read more about Core Finance Management at https://www.corefinancemanagement.com/