Protecting our agency partners' financial and reputational integrity is paramount for Champion Contractors. It's also why we pushed ourselves to attain our SafeRec umbrella company certification.
Building trust takes time. But losing that trust can happen very quickly.
It only takes one indiscretion or ill-conceived action to undermine or break the trust in a relationship. It's why Champion Contractors value the relationships and trust we have established with our agency partners so highly.
With intensifying scrutiny of the umbrella sector and the associated increased risk of non-compliance, we continually strive to retain that trust by providing the most compliant service possible.
Agencies are at increased risk from non-compliance in the Umbrella sector.
The level of risk to recruitment agencies posed by non-compliance in the umbrella sector has increased significantly over recent years.
The days of outsourcing employment, payroll responsibility, and liability without any comeback are long gone, and agencies can no longer claim ignorance as a valid excuse. The Criminal Finances Act (2017), Part 3, makes this clear in no uncertain terms.
Section 45 of the Act, Failure to prevent the facilitation of UK tax evasion offences, clearly stipulates that organisations must go to reasonable lengths to prevent tax evasion conducted by an associated person or party—an umbrella company, for example.
Agencies that haven't conducted due diligence on the providers in their supply chain might find themselves in a risky position should any tax evasion activities be identified.
Champion's SafeRec Umbrella certification provides agencies with due diligence, compliance and transparency.
Champion's SafeRec umbrella certification addresses umbrella company due diligence, compliance and transparency by tackling the specific requirements of the Criminal Finances Act (2017) head-on.
- Umbrella due diligence - SafeRec umbrella company certification includes a review of Champion's operational compliance. The review by an independent and regulated law firm, WTT Legal, includes regular vetting of Champion's contracts, policies and processes ensuring ongoing compliance with UK tax and financial law.
- Umbrella compliance and audit - SafeRec provides real-time payroll and payslip auditing functionality. Through API integration with Champion's OctoPaye payroll software, SafeRec's AI technology checks every payslip at source to ensure that all calculations and deductions are in accordance with PAYE rules and principles. The audit concludes with a cross-reference check with Champion's HMRC tax account to ensure that all deductions are subsequently paid to HMRC correctly.
- Umbrella transparency - Agency partners and their end-clients receive a regular payslip audit report independently generated by SafeRec. The audit reports provide a trail and history for future reference in case of a review or investigation.
Champion Contractors' SafeRec umbrella company certification provides the protection and security agencies and their end clients need from an umbrella provider.
For further information, contact the Champion Contractors team on 0161 703 2549 or email info@championcontractors.co.uk.