audit and compliance conference setting the standards crawford temple professional passport what’s...
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![Page 1: Audit and Compliance Conference SETTING THE STANDARDS Crawford Temple Professional Passport What’s in a name?](https://reader035.vdocument.in/reader035/viewer/2022070407/56649e215503460f94b0cf43/html5/thumbnails/1.jpg)
Audit and Compliance ConferenceSETTING THE STANDARDS
Crawford TempleProfessional Passport
What’s in a name?
![Page 2: Audit and Compliance Conference SETTING THE STANDARDS Crawford Temple Professional Passport What’s in a name?](https://reader035.vdocument.in/reader035/viewer/2022070407/56649e215503460f94b0cf43/html5/thumbnails/2.jpg)
Audit and Compliance ConferenceSETTING THE STANDARDS
Professional Passport
• Largest Independent Specialist Compliance Assessor• 20 Approved Umbrella Companies• 14 Approved Accountancy Service Providers
• We provide the ‘due diligence’ appeal for our Recruitment Company members
• Our Recruitment Company members have £5,000,000 insurance against MSC Debt Transfer Liabilities
• Recruitment Company members can provide their contractors free access to our website
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Audit and Compliance ConferenceSETTING THE STANDARDS
Professional Passport Jobs
• Circa 20,000 active jobs
• Tens of thousands of applications to recruiters every month
• Paid for job sites now put their jobs on the site to benefit from our traffic volumes
• Linked with all the main multi-posters
• FREE for recruitment companies to post
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Audit and Compliance ConferenceSETTING THE STANDARDS
What’s in a name?
![Page 5: Audit and Compliance Conference SETTING THE STANDARDS Crawford Temple Professional Passport What’s in a name?](https://reader035.vdocument.in/reader035/viewer/2022070407/56649e215503460f94b0cf43/html5/thumbnails/5.jpg)
Audit and Compliance ConferenceSETTING THE STANDARDS
Onshore and Offshore Employment Intermediaries Summary
What is an umbrella
Planning and Actions
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Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore Employment Intermediaries Consultation
Key Facts
• Final details are still to be confirmed
• Recruitment Companies will be held liable for tax if they supply workers who use offshore arrangements
• Significant reporting requirements placed on recruitment companies
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Audit and Compliance ConferenceSETTING THE STANDARDS
Onshore Employment Intermediaries Consultation
Key Facts
• Final details are still to be confirmed
• Recruitment Companies will be held liable for tax if they supply self-employed workers who are not self-employed
• Significant reporting requirements placed on recruitment companies
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Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore and Onshore Employment Intermediaries Consultation
HMRC has confirmed that:
• The final legislation will make it clear that Umbrella Companies and PSC’s are outside the scope of the legislation
• There will be an appeals process where ‘due diligence’ can be demonstrated
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Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore and Onshore Employment Intermediaries Consultation
Conclusions
• Recruitment Companies need to know how their workers are operating
• Cannot rely on light-weight questionnaires• Ignore company assurances and examine the facts
• Evidence your ‘due diligence’ process
• Build systems to meet reporting requirements
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Audit and Compliance ConferenceSETTING THE STANDARDS
What’s in a name?• Many generic labels are given to intermediaries
• Umbrella
• Pay day by pay day model
• Personal Tax Relief model
• Personal Service Umbrella
• One Man Umbrella
• Self-Employed Payment Intermediary
• Employment Intermediary
• What is important are the facts of the arrangement
HMRC will always consider the actual facts of the arrangements NOT the model/scheme the company says it is operating
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Audit and Compliance ConferenceSETTING THE STANDARDS
HMRC does NOT kite-mark schemes and does NOT provide
generic advice that a ‘scheme’ or ‘model’ is compliant
• Common claims of compliance• We have leading counsel’s opinion
• HMRC has agreed our model is compliant
• HMRC will not pursue you or your end client for arrears should they arise
• Bold statements by the promoters are no guarantee
You must know the facts and demonstrate the steps you took to establish them
Buyer Beware!
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Audit and Compliance ConferenceSETTING THE STANDARDS
Umbrella Definition
An umbrella company is a company that employs workers on an overarching employment contract to be engaged at a series of temporary workplaces through a range of temporary assignments.
All payments have full PAYE applied and are subject to the National Minimum Wage.
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Audit and Compliance ConferenceSETTING THE STANDARDS
Overarching Employment
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Audit and Compliance ConferenceSETTING THE STANDARDS
Relationships
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Audit and Compliance ConferenceSETTING THE STANDARDS
Offshore and Onshore Employment Intermediaries Consultation
Actions
• Robust Provider Due Diligence
• Design internal processor• Outsource process
• Build systems to meet reporting requirements
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Audit and Compliance ConferenceSETTING THE STANDARDS
Actions
Provider Due Diligence – Professional Passport
• Current Providers
• Review Approved Providers
• Create PSL
• Join Professional Passport to benefit from £5,000,000 Debt Transfer Insurance
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Audit and Compliance ConferenceSETTING THE STANDARDS
Actions
Watch out for final legislation for exact detail on:
• Appeals Requirements
• Reporting Requirements
• Liabilities
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Audit and Compliance ConferenceSETTING THE STANDARDS
“If you think compliance is expensive –
try non-compliance.”
Former U.S. Deputy Attorney General Paul McNulty
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Audit and Compliance ConferenceSETTING THE STANDARDS
Crawford Temple
0118 988 803407881 511345
https://itunes.apple.com/gb/app/pp-jobs-hd/id743707910?mt=8
http://jobs.professionalpassport.com/jobboard/purchase/order1.asp?o=1