Auditors have undertaken a very thorough audit of ContractorUmbrella which aims to provide you the contractor, agency or end client with the security that the service you will receive and the processes that are undertaken on your behalf are compliant with HMRC. We have detailed below some of the items that are covered as part of this compliance audit, however if you have any questions with regards to the audit then please contact us on 01206 713 680.
Scope of the Umbrella Company Audit:
The following points show a summary of the audit that auditors carry out to assess an umbrella companies compliance.
- Financial stability of the business
- Expenses paid to employed workers
- Management of tax risk
- Accounting for VAT
- Adequacy and appropriateness of insurance cover
- Compliance with Managed Service Company legislation
- Effectiveness of overarching contracts of employment and charging employees fees
- National Minimum Wage compliance
- Compliance with the Agency Workers Regulations
Any umbrella company who wishes to be a member of APSCo has to have successfully undertaken this audit to be a registered member of the organisation. ContractorUmbrella are proud to have successfully completed the audit in 2014.