Mr Hunt explained that the government was focussed on five areas: reducing the national debt; cutting tax and rewarding hard work; backing British business; building domestic and sustainable energy and delivering world-class education.
Feedback from the initial Call for Evidence in 2021 drew out important issues which formed the basis of some questions raised in the latest consultation, which closed in August. One chapter focussed on possible options for regulating umbrella companies. In this article we consider those questions, their possible outcomes along with our own views.
A company's workforce is its most valuable asset, and creating a positive work environment is crucial for attracting and retaining top talent. PayStream achieved a significant milestone by earning the "A Great Place to Work" accreditation. This recognition is a testament to our commitment to fostering a culture of success, where our employees are valued and supported personally and professionally.
At this stage nothing is known but it is worth agencies and end clients considering the possible impact of ‘Transfer of tax debt that cannot be collected from an umbrella company to another party in the supply chain.’ Along with how it may play out if it becomes part of the government’s solution. If adopted as a central pillar of change, this decision would be very much in line with the government’s approach to Off-Payroll Working (IR35). Despite its hostile reception by the industry, both HMRC and government have deemed it a success in reducing non-compliance.
Carmel originally joined PayStream back in 2014 as a Compliance Assistant and in the years since then she has worked her way up the PayStream ranks, now working as our Regulatory Compliance Manager. We wanted to learn a little bit more about Carmel and her journey at PayStream.
On 6th June the Tackling Non-Compliance in the Umbrella Company Market consultation was released. The deadline for responding is Tuesday 29th August 2023. If you haven’t done so already and want to have your say, now is the time to act.