In a dynamic and continually evolving market, Umbrella Companies have a new weapon at their disposal to keep abreast of the perpetual shifts in compliance requirements: a comprehensive compliance benchmark standard compiled by Professional Passport.
The new 17-chapter reference book is described by Professional Passport’s MD Crawford Temple as a “living document”: it can be continually updated to keep abreast of changes to the compliance landscape as they occur. Available in a bespoke, high-quality ring binder, purchasers will automatically receive updates as soon as they are available – old chapters can simply be removed and replaced with the updated versions.
Mr Temple explained that such a comprehensive operational reference book for Umbrella Services has not existed until now, despite the fact that HMRC are “stepping up their compliance activity” – a process that he anticipates will continue apace into the foreseeable future.
For too long, he said, “the compliant and responsibly run Umbrella Providers have been at a commercial disadvantage, as they carry the additional costs of compliant processes; creating transparency in the market helps promote the responsibly run organisations and expose those that fall short.”
The book outlines the necessary operational procedures in jargon-free language so that anyone can readily evaluate their current practises against the benchmarked standards.
Welcoming the publication, an HMRC spokesman commented: “We are aware of the work of Professional Passport and welcome any steps that are designed to improve and increase the level of compliance in the sector.”
The Compliant Umbrella Providers Operational Handbook, available from the Professional Passport website, is intended to be an essential operational reference not only for Umbrella Companies but also for recruiters and RPO and MSP compliance departments.