Alternet Gains HMRC Approval and Compliance Endorsement
Great news for Alternet's contractors and agency clients - Alternet's working practices are confirmed as fully compliant and lawful at a time when HMRC is scrutinising the way in which umbrella companies operate.
In the Chancellor's pre-budget report and later announcement in December 2008 concerning umbrella companies, the Government stated its intention to focus on non-compliance among companies providing payment services or contract arrangements to temporary and self-employed workers. All Alternet contractors are permanent employees of Alternet.
After a routine on-site audit and full examination of company files and procedures, HMRC have confirmed Alternet Limited's umbrella company structure is compliant and lawful.
"We are delighted because it endorses the company's exceptional efforts to ensure compliance." says Adam James, Alternet's managing director.
- HMRC was able to examine and approve the over-arching contract that Alternet has in place for its umbrella employees
- HMRC was able to confirm and approve the Dispensations they have granted are being applied compliantly
- HMRC was able to confirm and approve that all employees expenses are being claimed within revenue guidelines and conform to current legislation
The expenses dispensation plays an important role in Alternet's structure as it allows employees to claim legitimate expenses against tax liabilities, without having to report the expenses on their tax returns. In addition to reducing administration, the dispensation also reinforces confidence that Alternet is doing business in a compliant and effective manner.
"In a difficult market in which umbrella companies operate, we are obviously delighted with HMRC's approval of our procedures and systems. It is just reward for the time and money spent on professional advisers to ensure complete compliance with current legislation, and the meticulous processes we have installed to ensure we safeguard all our employees." Adam James.