Statutory Due Diligence Confirmed To Tackle Non-Compliance In Umbrella Companies Market
Image by 3D Animation Production Company from Pixabay
The government has announced more detail on plans to tackle non-compliance in the umbrella companies market in its Tax Administration Day summary.
Last summer, the government launched a consultation on strategies to curb tax non-compliance in the market, with a commitment to publish a response to this consultation in due course. This consultation included a proposal to address tax non-compliance with ‘a statutory requirement for end-clients or recruitment agencies to carry out due diligence on umbrella companies.’