As the focus on non-compliance and tax avoidance in the umbrella company market continues to grow, managing risk is more important than ever.
Non-compliance in the temporary labour supply chain poses significant risks and can now impact all parties, from contractors to engagers. One powerful strategy to mitigate these risks is to establish a Preferred Supplier List (PSL) of umbrella payroll providers. By partnering with compliant and accredited companies like Big Fish, recruitment agencies can eliminate non-compliance risks and strengthen their reputation.
Thorough Due Diligence is a Must When Compiling an Umbrella Company PSL
A well-curated and thoroughly vetted PSL ensures you only work with umbrella providers that adhere to UK tax law and strict compliance standards. This safeguards your business, contractors, and clients against tax avoidance schemes and other unethical practices.
A trusted PSL can help to streamline operations while protecting your agency from legal and regulatory pitfalls. With a focus on compliance, you can avoid the potential hazards associated with non-compliant or unethical payroll practices.
Including Big Fish in your PSL means you are choosing one of the most accredited providers in the industry with a proven track record in adhering to UK tax legislation and upholding the highest standards in ethical payroll processing. Our FCSA, SafeRec and Professional Passport accreditations demonstrate our commitment to compliance and shield you and your clients from HMRC investigations, fines and penalties, and enhance client confidence. When your end clients see that you’ve aligned with reputable providers, they recognise your dedication to transparency and integrity.
Strengthening and Building Your Business with an Umbrella Company PSL
A compliant umbrella company PSL strengthens your market position by helping you build long-term, trusted client relationships. It signals that your agency values quality and effectively manages risk. By leveraging Big Fish’s expertise, you can deliver compliant, consistent, and reliable services that set you apart from competitors.
Adopting a PSL featuring trusted umbrella payroll companies is a smart, proactive approach to risk management. It helps you navigate the complexities of today’s recruitment environment while fostering a trustworthy image that resonates with clients and partners alike.
By selecting a PSL that includes top-tier companies like Big Fish, recruitment agencies enhance operational efficiency and reinforce their commitment to ethical practices and regulatory excellence.