ADVANCED PAYROLL COMPLIANCE
ADVANCED PAYROLL COMPLIANCE
Becoming a Member of the PCA offers an array of commercial benefits to payroll companies who want to differentiate themselves from their competitors. Estimates suggest that there are in excess of 600 umbrella companies trading in the UK with less than a third carrying any form of compliance accreditation, which highlights the need for a new audit standard.
The non-regulated nature of the payroll landscape has inevitably raised questions about the legitimacy of many providers in the media and tarnished the reputation of the industry as a whole. Genuine concerns that contingent workers are not being paid properly or being exposed to a myriad of tax avoidance schemes are frequently raised in the national press, and rumours of non-compliance among even established umbrella companies are rife.
The cumulative impact of of this negativity is eroding confidence in the wider sector and casts a shadow over the activities of hard-working contractors and legitimate payroll supply chains, including temporary recruiters and payroll providers. A sense of injustice has emerged in recent years, with HMRC even taking to publishing the names of providers who they deem to be engaged in fraudulent activity.
With the macro employment market shifting relentlessly in favour of self-employed and assignment-based arrangements, it is essential that the public and employers have trust in payroll companies who do provide an essential service on behalf of the contingent workforce. By joining the PCA, umbrella companies can highlight their commitment to unequivocal compliance and promote themselves as one of a select group of transparent, ethical and truly legitimate payroll firms.
The PCA champions moves towards a regulated payroll industry and supports any initiatives to expose and banish rogue providers from the market. By joining the PCA, Members align themselves with this philosophy and position themselves accordingly. To find out more, please get in touch in the strictest confidence.
