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Importance of having a PSL

Paystream News

Ashley Olliver

Thursday 17th Aug, 2017

With the many changes our sector has experienced over recent years from IR35, AWR, RTI, Pensions, Offshore, Onshore, T&S legislation and the more recent IR35 changes in the public sector, agencies understand the importance of compliance and service now more than ever.

There is undoubtedly a trend in the market to work more widely with Preferred Supplier Lists (PSLs) as this makes it easier for an agency to manage compliance and reputational risk, whilst reducing administration. With the Criminal Finance Act being introduced in September, agencies should consider further reducing the number of preferred suppliers on their PSLs and some may even make the move to sole supplier arrangements. In making such a decision the first consideration is of course compliance, followed by service delivery.

If you don't currently operate a PSL or are in the process of reviewing the providers you work with then look no further, as the only provider run by qualified accountants and lawyers, you can count on PayStream. Our in-house legal and compliance team, coupled with our team of IT developers, gives us the agility to react quickly and seamlessly to legislative changes whilst providing award winning services.

To find out more please contact your Client Relationship Manager, email us at agency_support@paystream.co.uk or call 0161 923 0204.