Tuesday, 31 August 2010

Oriel Contractors are Compliant

Accountax Consulting has recognised Oriel Contractors to be a compliant contractor provider company in the UK.

This is a fantastic achievement given the complexities of the Managed Service Company (MSC) legislation. Oriel Contractors is part of the Cheltenham based Oriel Group which provides services to the recruitment industry and this year celebrates its ten year anniversary.

Accountax Consulting are the market leaders in MSC legislation. Their team of highly qualified legal and tax specialists offer expert advice to their clients on contractor, PAYE and IR35 compliance. This expertise enables Accountax to also have a good track record for helping clients defend cases brought against them by HMRC.

Over recent months there has been a growing concern about the MSC legislation in the contractor market, as agencies can become liable if one of their suppliers breaches the tax legislation. This concern led a group of leading agencies to commission Accountax to review a selection of CIS and Umbrella companies. This would allow the agencies to develop preferred supplier lists safe in the knowledge that the suppliers were operating compliantly. The agencies chose Accountax to do this work as they are the market leaders in this field and are totally independent of any contractor supplier or employment agency.

Oriel Contractors were invited, along with a number of other leading providers, to undertake the compliance review. This review has now been completed and Oriel has been given complete clearance as an Umbrella Company and a CIS contractor. This is great news for Oriel Contractors and their clients as it will give additional piece of mind and will assist Oriel to achieve preferred supplier status for other agencies.

Jim Goddard, Divisional Manager of Oriel Contractors comments "The Accountax review further underwrites Oriel Contractors credentials as experts in this field. This will enable us to compete for preferred supplier status with agencies with an advantage over many of our competitors".