Why Compliance is Important for Payroll Services

Why Compliance Is Important For Payroll Services

Engaging contractors, temporary workers and freelancers is a complex regulatory area. If the proper contractual arrangements and processes are not followed to the letter, questions can very easily arise as to a person’s employment status, and getting it wrong can prove extremely costly. What if you engage somebody on a self-employed basis, yet by some discrepancy in the wording of your contract, the way they work or the way you pay them it transpires that they are legally considered to be employed? You could find yourself liable for tax, National Insurance and workplace pensions as well as other employment rights and benefits afforded to permanent staff. This may be the worst-case scenario, but it does illustrate the point that the importance of compliance for payroll services simply cannot be overstated. If you don’t want to leave anything to chance, find out how Futurelink Group puts compliance at the centre of all its processes with our compliant contractor solutions.

As more and more employers are moving away from traditional ways of hiring workers, the employment market has changed significantly in recent years. Workers too are taking advantage of the freedom and flexibility offered by these new ways of working. Legislation is constantly being updated to keep pace with the changing climate and so it’s crucial to have your payroll services looked after by someone who is fully conversant with all of the latest changes and case law.

Compliance is not only important for those who hire contractors; it’s equally important for those who work as contractors, whether they do so as a sole trader, limited company or via an umbrella company. Using a CSI tax service from a company that treats compliance with the importance it deserves gives you peace of mind and the knowledge that your payments are being handled with the utmost professionalism and efficient way. Futurelink Group is just such a company. We are ISO:9001 accredited and our in-house compliance team are diligent in ensuring all of our processes are fully compliant with the latest HMRC guidelines. Not only that, we regularly undergo internal and external audits and take advice from experts on relevant areas of taxation and employment law.

HMRC’s IR35 legislation has been in existence for some years but has been updated several times in the last couple of years, making it the focus of some media attention. A number of contractors have had their employment status challenged under the new regime and it’s important to remember that if you work as a contractor, it’s not just the company you work for that could pay the penalty if HMRC decide you are not legally classed as self-employed – you too will face a significantly increased tax and National Insurance burden. This can add up to a considerable sum over the course of a year, so it’s not something you want to risk for the sake of a small technicality or two.

At Futurelink Group, we know that compliance is key to our business and yours and that is why we don’t take any risks. Find out about our payroll services and contractor tax solutions by calling us on +44 (0)1923 277 900 or visiting our website.

“I’ll most certainly pass on your details to people I know. You run a great service there, keep up the good work.”

William Cadden, Self-Employed Contractor

“For me, Futurelink Group was the best solution, as a foreign and a lack of knowledge of the UK rules, they were extremely helpful in all aspects. Always fast in answering all my questions. I almost didn’t do anything and they put me on track to invoice and receive my payments. I can fully recommend them.”

Ronaldo, Umbrella PAYE contractor

“WS Contractors Ltd are extremely happy with the services that Futurelink provide. The efficient and friendly staff are always willing to help and assist. The feedback from our operatives is positive and pleasing. We would recommend Futurelink to all new recruits joining our team.”

Michelle Hughes, WS Contractors Ltd

“We at Gemini would like to thank you and your team for all your help and support in connection to payroll solutions. We find Futurelink Groups approach to be responsive to action when required with a courteous and bright manner – keep up the good work!”

Frank Mcfarlane, Gemini Security Services Ltd

We have strict compliance procedures in place, we are ISO:9001 accredited and we also carry out regular independent audits of our processes so you can be sure you are in safe hands. Companies within our group have been accredited with the following:

Futurelink Group consists the following companies, all incorporated in England & Wales: Futurelink Group Ltd (0620 6129), Futurelink Accountancy Services Ltd (0532 0147), Team Construction Ltd (0493 5270), Horizon RCS Ltd (0620 6202) and Horizon RCS Europe Ltd (0620 6136). Privacy Policy | Terms & Conditions