When it comes to getting paid via an umbrella company, contractors can be forgiven for having the occasional doubt or two.
So much has been reported on tax avoidance schemes, withheld holiday pay and hidden charges, to name but a few, it's hardly surprising that contractors can be cautious.
However, while caution is understandable, contractors can take solace from the fact that some positive moves are happening within the umbrella sector.
Umbrella payroll audits enhance compliance
A recent and significant positive in the umbrella sector is the use of AI to support audits and compliance.
Ensuring we continue to set the standard for umbrella compliance, Champion Contractors has moved quickly to secure SafeRec Umbrella Company certification, providing real-time payroll and payslip auditing functionality. Contractors have always been able to rely on Champion Contractors to provide a compliant, trusted and transparent payroll process. The addition of SafeRec certification means that contractors will get the added comfort of knowing that their payslips will be audited in real-time to ensure accuracy and compliance.
SafeRec is an independent payroll audit service provider, and certification will elevate Champion Contractors' service and compliance to a level few other umbrella companies can match. For contractors, this will provide added assurance and peace of mind that there is zero scope for issues such as disguised deductions or salary skimming.
Umbrella Company market consultation paper
Another positive shift for contractors was the recent release of the Government's response to its umbrella company market call for evidence and consultation paper.
The paper focused on tackling non-compliance within the industry and sought stakeholders' views on eradicating practices suggested as harmful to workers (contractors).
For contractors, the Government's proposals included additional and updated guidance for contractors and employment businesses, the possible introduction of a pay calculator tool and the publication of further detail on organisations identified as promoting tax avoidance schemes.
Champion Contractors will keep a close eye on developments and keep you up-to-date on the findings as they are released.
Champion Contractors; protecting contractors today and always
While we wait for the Government to release its findings from its consultation paper, contractors must remain vigilant.
With a track record of transparency and compliance and the added security of SafeRec certification, Champion Contractors can offer contractors a safe, reliable, value-added payroll service.
For further information, contact the Champion Contractors team on 0161 703 2549 or email info@championcontractors.co.uk.