As a Recruitment Business, setting up a PSL has some great advantages, mainly to protect your business and giving insight how suppliers work. Furthermore, a PSL ensures that suppliers are financially robust, compliant and genuine employers of flexible workers.
The Umbrella payroll market has changed substantially over the past few years with the introduction of new legislation such as auto-enrolment and onshore intermediaries and the upcoming Criminal Finances Act (September 2017). Recruitment agencies are now turning their focus to the compliance of their payroll partners; it’s now fundamental that necessary checks are carried out as cases of agencies shouldering the blame as their payroll suppliers go out of business due to non-compliance.
What to consider when short-listing providers?
The starting point is to consider the financially stability of suppliers, leading suppliers are normally open to sharing this information as it’s widespread practice when securing business relationships with new agencies; after all you’re trusting them to pay your workers.
It’s also advisable to consider the compliance record and ethics of suppliers you converse with, many recruitment businesses find themselves in hot water after rogue suppliers offer models which leave workers worse off or with unexpected tax bills at a later date.
Working with payroll companies involves them handling secure company data, asking questions around how they handle and secure confidential information should be investigated.
An effective way of gaining some confidence would be to look at accreditations they hold, there are several memberships to look out for these include:
Freelancer and Contractor Services Association (FCSA)
Recruitment and Employment Confederation (REC)
Association of Professional Staffing Companies(APSCo)
Why Nasa Group?
Nasa have been a leading provider of Umbrella payroll and Limited Company solutions since 2006 and have an in-depth knowledge and experience of delivering a fully compliant service to contractors throughout the UK, you can be assured you’re in good hands with Nasa.
We are a member of Professional Passport, an FCSA associate and an affiliate of APSCo; showing compliance is at the forefront of everything we do - giving our agency partners and contractors alike ‘peace of mind’.
At Nasa we aim to build partnerships by becoming an extended arm of your business, keeping you up to date on legislation changes, offering best advice to contractors ensuring ethical advice all round.
For more information and support around developing your PSL contact Nasa today on 0117 929 7683 or email us at Sales@nasagroup.co.uk