Is your umbrella company really prepared for when HMRC pays a visit?
Since the introduction of the Managed Service Company Legislation in April 2007, HMRC have been relentless in their pursuit of a compliant umbrella company marketplace. They have already setup two dedicated MSC compliance units in Sheffield and Taunton and rumours continue to circulate about the possibility of yet more regulation.
Many of the big umbrella providers have recently undergone extensive audits by HMRC so if they haven’t already been in contact with your business, the chances are they’ll be paying a visit very soon.
Imagine what would happen if an HMRC inspector decided that your expenses policy was fundamentally flawed, or even worse that your employment contracts were not ‘overarching’? In just one day, all your hard work could evaporate into thin air with your business facing a winding up order owing thousands in unpaid taxes.
Ados Employment Business Solution (EBS)
Ados Consulting are one of the country’s leading contractor tax specialists. They have been providing business compliance and consultancy services since 1988, and have a proven track record for defending clients against HMRC attack.
Following recent tax cases against umbrella companies and backed by enormous client demand, Ados have recently introduced a new solution specifically for the umbrella company marketplace. The Employment Business Solution has been developed for companies that operate both umbrella, CIS, MSC and even sole trader services. It combines a one-off audit and follow on support services thereafter.
Unlike their competitors, Ados have a qualified team of in-house tax specialists who will undertake a full review of your existing legal, tax, HR and employment procedures. After the initial Ados EBS Audit, you will receive a written report outlining non-compliance and potential areas of risk with the appropriate recommendations to put things right. You will also be be to promote your business as being ‘Ados EBS Audited’ once the necessary remedial actions have been taken.
If you need assistance in implementing your agreed plan of action, we can provide as little or as much help is as necessary. With a Ados EBS Endorsement your contractors and recruitment partners will have assurance that they are working with a reputable and compliant provider. You can also enjoy a decent nights sleep knowing you’re operating 100% within HMRC guidelines.
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