Compliance Articles

Take Home Pay Umbrella Companies
marketing | 29 August 2018
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The government has issued a warning about agencies and umbrella companies that claim to be able to help you save on tax and boost your take home pay.

Although everything may look legitimate and above board, these companies actually run tax avoidance schemes that could land you with a bigger tax bill and penalties, HMRC said.

The ‘too good to be true’ schemes work in different ways, but operators usually promise to reduce your tax liability and help you keep more of your income.

Businesses: Don’t get stung by GDPR
marketing | 27 April 2018
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On May 25th 2018 a new EU regulation could mean big fines for businesses of all sizes if they don’t follow new personal data and privacy rules.  

General Data Protection Regulation (GDPR) will replace the 1995 Data Protection Directive and will restrict the way that businesses collect, store and export personal data.

This includes data held on customers, potential customers, suppliers, employees and any other EU residents.

 

Nicholas Holmes, CEO of Umbrella.co.uk, has been elected to the Board of the FCSA
marketing | 26 September 2016
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Umbrella.co.uk are delighted to announce that Nicholas Holmes, CEO of Umbrella.co.uk, has been elected to the Board of the FCSA (Freelancer & Contractor Services Association).

Umbrella.co.uk is an associate member of the FCSA which is now the largest trade body for compliance in our sector, and has very stringent criteria for membership.

All umbrella companies are equal

Umbrella.co.uk are pleased to announce that following a full review of our over-arching contract of employment and umbrella company expenses policies we have gained membership of All Umbrella Companies are Equal (AUCAE). As such we are considered to follow HMRC policies and relevant UK tax law.

4Dm1n | 13 March 2010
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PayMatters are now using Experian for online verifcation of ID for new contractors joining their Umbrella Company.

BBC Presenter Forced to Use PSC
marketing | 10 May 2018
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Joanna Gosling is the latest BBC presenter to complain that the public service broadcaster forced her to operate through a limited company, exposing her to HMRC legal action.

Alongside BBC colleagues David Eades and Tim Willcox, Gosling is appealing against a £920,000 tax bill , which HMRC argues is owed in back income tax and National Insurance contributions.

HMRC claims that the presenters were within the IR35 rules and operating in ‘disguised employment’.

The court heard that the three presenters were “ pushed by the BBC ” into creating the personal service companies. These companies allowed the corporation to avoid paying employers’ National Insurance contributions and came with very few benefits.

 

The new Tax Evasion Legislation for Recruitment Agencies
To prevent tax evasion, the new tax law makes recruiters criminally responsible.
 
Following on from recent tax scandals, including the Panama Papers and various loan write-off schemes, a new corporate “failure to prevent” offence is being introduced from 30th September with a severe penalty regime that should make all agencies sit up and take note.
 
With unlimited fines and the possibility of a criminal record a clear target is being painted on the backs of any part of the staffing supply chain that isn’t compliant. Of vital importance is the fact that an agency can be convicted even if no intent is established and the agency has not benefited financially from the arrangement.
 
 
 
 

 

Finance Contractors
marketing | 6 August 2015
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Demand for finance and accounting contractors has increased dramatically over the past year and is poised for further growth, a new report suggests.

All umbrella companies are equal

Allumbrellacompaniesareequal are encouraging recruitment agencies to compliance check the umbrella companies on their PSL Lists (Preferred Supplier Lists).