The importance of your PSL
Having an up-to-date and reliable Preferred Supplier List (PSL) is now crucial for recruitment agencies. The government are continuing to crack down on tax evading contractors and companies that point them in the direction of non-compliant payroll providers.
Early in 2017, the Criminal Finances Act came into effect and reiterated the government’s intention of eliminating the facilitation of tax evasion. Did you know that recruitment agencies that refer candidates to non-compliant payroll services could face unlimited fines and managers and directors could receive custodial sentences?
Adding us to your PSL
Bluebird Accountancy operates in full compliance with all laws and regulations introduced by HMRC. Our intention is to provide freelancers, contractors and small business owners with an exceptionally modern and straightforward way of managing their business accounts with the support of a dedicated Account Manager and state of the art software by FreeAgent.
Your PSL Checklist
In order to remain compliant, it is very important that your recruitment agency only refers candidates to compliant payroll providers. Bluebird Accountancy has created a short PSL checklist – please see below.
It is important that the businesses on your PSL…
- Have your candidates’ best interests at heart.
- Hire staff with plenty of experience in the industry.
- Can prove they have a 100% compliance record with HMRC.
- Do not offer over the top or alarmingly generous referral incentives. If your consultants are being offered extravagant rewards for referring candidates, you should be suspicious of the provider’s intentions (are they at risk of falling foul of the Bribery Act 2011?)
- Have been set up in the United Kingdom and continue to operate fully onshore.
- Are experts on the latest legislation and are able to offer reliable and ethical advice to your consultants and your candidates.
- Are professional and strict with your candidates’ expenses claims.
- Are able to assist your candidate with getting insurance and IR35 reviews, if required.