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Discover the benefits of adding SJD Accountancy to your Preferred Supplier List.
SJD Accountancy are the UK’s largest specialist provider of fixed fee, limited company accountancy services to contractors. We’ve been acting for contractors, freelancers and small to medium sized businesses across the UK since 1992 and have more than 15,000 clients.
We are the only national specialist firm with offices in all major UK cities and are deemed IPSE Accredited Accountants and fully MSC Compliant. We have more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies: ATII, ATT, ACCA, CA, ACA, FCCA, ACMA.
Any contractor who is planning to contract for either 3 months or longer, or take home around £25k a year or more (about £100 per day) could benefit from contracting through a limited company.
If you think your contractor could benefit from a limited company, then please get in touch with us and we can discuss the options available to them, based on their individual circumstances. This includes calculating their potential take home pay and discussing the advantages and disadvantages of operating through a limited company.
As a recruiter, compliance should be at the heart of every decision you make. A Preferred Supplier List (PSL) is an effective way of protecting your business and ensuring your providers are keeping your clients safe.
Several new regulations to protect clients within the finance industry have resulted in more stringent guidelines for recruiters. This is why it’s more important than ever to ensure you’re only working with compliant companies who will keep your clients and contractors protected.
We’ve compiled a guide to help you understand why this is important for your business, what you should look for as a recruiter and how to put a list together.
Establishing and keeping your Preferred Supplier List up to date can be beneficial for a number of reasons, including:
A Preferred Supplier List allows you to protect yourself in the event of any compliance issues. By choosing and thoroughly reviewing any potential suppliers, you can protect your business and your clients more efficiently than otherwise if you left individual contractors to choose suppliers.
A properly maintained list will give you control over the companies which you refer your clients to. You can build your list around a strict set of criteria meaning that only those who adhere to these rules will be considered.
Creating your own PSL means that your clients and contractors won’t need to source their own suppliers. Not only will this give you peace of mind as there is no danger of these companies varying in their levels of compliance but this can also prove to be effective for your company. Rather than managing multiple different suppliers, you will instead be responsible for a small number of pre-approved clients.
Companies who provide Managed Service Company (MSC) services to clients may cause issues with compliance. For instance, you should check whether companies have access to clients’ bank accounts, how involved they are in managing the client’s company and whether they are shareholders or directors of the company.
You should be mindful of a company’s reputation and accreditation. A potential supplier should have industry awards or accreditations from professional bodies and a good reputation.
The industry can be fast-changing so it’s important to only work with companies who have a comprehensive understanding of laws and legislation.
Be wary of any companies who are unwilling to share information with you, those who are not up to date on tax payments or those with late payment penalties.
More recruiters are choosing to not only provide contractor candidates with an approved list of umbrella companies but are now choosing to do the same with accountancy providers.
Referring to SJD means working with a well-established and fully compliant team of experts who are committed to doing what’s right.