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There are two main self-regulating professional bodies in the temporary worker industry. Both of these bodies were established and work to ensure that the temporary workers' supply chain is compliant with HMRC and operates ethically.
However it is important to note that these "Self-regulating" bodies are officially no more compliant than a self-regulating umbrella company indeed many started out this way. Umbrella companies who are members of these bodies are "paid up".
Freelancer & Contractor Services Association (FCSA)
The FCSA is perhaps the UK's most recognised Umbrella company professional body. They work closely with HMRC and stakeholders within the industry to resolve issues that arise and ensure temporary workers are protected. Their Codes of Compliance are published online for all to see, and every assessment undertaken on a payroll provider is available for HMRC to see - if they're interested. This makes the FCSA transparent. Every year, the FCSA will re-assess its members and run a series of assessments. It's fair to say that FCSA members cannot get complacent - or they run the risk of being stripped of their accreditation.
Professional Passport was founded in 2007 and is an independently owned professional body.
To earn Professional Passport membership, payroll providers (including contractor accountants and umbrella companies) must prove they adhere to the highest quality standards.
Professional Passport has its own strict codes of compliance, and they're continually being updated to ensure they're in line with the marketplace.
Published 13 November 2023
The government will shortly announce its tax and spending plans for the year ahead.
The Autumn Statement affects the take-home pay and household budgets of millions of people, as well as setting out how much will be spent on key public services.
Published 10 November 2023
Tax credits customers will receive the autumn Cost of Living Payment between 10 and 19 November 2023.
Around 840,000 families, who receive tax credits and no other qualifying benefits, will receive their £300 autumn Cost of Living Payment from today, to help with everyday costs.
Published 16 October 2023
TaxWatch analysis estimates British arms of seven major tech firms paid £750m in corporation tax instead of possible £2.8bn.
The UK might have missed out on as much as £2bn in tax in 2021 from big tech companies shifting their profits elsewhere, according to an estimate by a group campaigning for greater tax transparency.
Published 7 October 2023
The government's policy is to keep income tax and national insurance thresholds frozen until 2028, meaning many will be pushed into higher tax bands as a result of inflation.
Published 24 September 2023
Rishi Sunak is reportedly considering an inheritance tax cut as he attempts to woo voters and create dividing lines with Labour, which is comfortably ahead in the polls.
The plans would make way for the eventual scrapping of the levy, the Sunday Times has reported. However, Downing Street has sought to play down speculation that the prime minister was drawing up plans to cut the tax.
27 April 2023
Millions of people could benefit from plans to help them boost their future savings as the government today publishes a range of tax measures to make the system simpler and more effective.