Since our last update, we have seen one of the most significant changes in legislation to affect our sector since the introduction of the MSC regulations in 2007. As contractors are now aware, on the 6th of April new rules on Travel and Subsistence (T&S) were introduced, restricting a worker's ability to get tax relief on his/her travel and subsistence expenses unless it can be shown that the worker is not under the supervision, direction or control (SDC) of either the client, agency or PayStream in the way he/she carries out their work.
PayStream prepared for the T&S changes well in advance. Our systems, processes and services were ready before the legislation was introduced meaning that we have been quoting and joining contractors in the service that is most appropriate for their circumstances for some time to ensure that we have been clear and transparent with our customers.
This month's edition of News Stream also shares with you our new back-office software, which offers a visual work-flow of the contractor on-boarding journey, making it easier for agencies to manage their compliance obligations while also removing the administrative burden that is typically involved. The newsletter also gives some key calendar dates that your limited company contractors should be aware of, whilst also advising of the different ways both you and your contractors can contact our Customer Care Team for help and support.
There are lots of exciting things to come from PayStream over the next couple of months, so watch this space for more info!