Wednesday, August 10th, 2011

ClearSky Accounting, the specialist contractor and small business accountant, is the latest major UK service provider to start the independent Freelancers and Contractors Services Association (FCSA) Code of Conduct Review. Upon successful completion, ClearSky will be a full FCSA member.

The FCSA Code of Conduct review is the only review process governing companies in the contractor and staffing business service provider space that has been developed with support from HMRC. It is also the first review process for service providers that has the support of both REC and APSCo. In addition, the review is conducted by KPMG and HMRC receives copies of the final audit documentation.

The review includes:

  • A challenging desk top questionnaire into business practices and performance
  • An on-site audit to ratify claims made in the questionnaire
  • An review covering aspects such as company directors, company finances, pre-employment checks, employment contracts and processes, expenses processing

Commenting on the process, Derek Kelly, Managing Director of ClearSky Accounting, said: “This is a very exciting time for ClearSky. I believe that the FCSA Code of Conduct represents the highest standards and best practice in our industry and by proactively presenting the results to HMRC it is also the most transparent.

“In the last few months alone we have seen several service providers in our industry go under, leaving thousands of contractors and freelancers out of pocket and facing potential fines from Companies House and this is not acceptable. These individuals and micro-businesses are the bedrock of our economy and they need security and protection. The FCSA membership demonstrates that we are committed to this and can give our clients the peace of mind that comes with that.”

Stuart Davis, Chair of the Freelancer and Contractor Services Association, said: “We’re delighted that ClearSky has opted to make the journey to membership of the FCSA. Our HMRC-recognised Code of Conduct holds companies to the most stringent standards of professionalism and accountability in our industry – so while demonstrating appropriate compliance and becoming a member is not easy, we at FCSA are committed to providing prospective members with all possible support and encouragement.

“FCSA accreditation boosts business, because it proves that a service provider is reliable, responsible and robust. With the flexible workforce growing ever more cautious about the companies they work with, adhering to the sector’s ‘gold standard’ is likely to attract new clients. We hope that in the coming months and years more companies choose to join us, because the Code underlines the credibility and maturity of our young industry.”

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Tuesday, July 12th, 2011

…so we will bring you up to speed free of charge.

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‘We are all in this together’ is a phrase we’ve heard a lot over the last 12 months, with varying degrees of scepticism it has to be said. Having said that though, I believe there are times when this really does ring true.

It was alarming this week to see the large number of contractors who are suffering as a result of the situation with certain Accountants. With year ends approaching many are finding that their company accounts are behind and as a result they are concerned about Companies House/HMRC fines etc.

When situations like this occur they have the capability to tarnish our industry as a whole so it’s vital that we all rally round those affected and do what we can.

So with that in mind, if you have been affected just sign up to ClearSky Accounting and we will bring accounts up to speed free of charge.

Get in touch with us for more details.

Whether you’d like to find out more, or sign up with ClearSky, get in touch today. We look forward to hearing from you.

If you’d like to talk to us call us on free phone

08000 325 326

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Alternatively why not Email us a question or Click here to appoint ClearSky now

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Wednesday, February 2nd, 2011

HMRC has recently announced it will be imposing fines of up to £3,000 on small businesses that fail to manage their books properly. This could be a crippling amount for small businesses and new start-ups so here, Derek Kelly, Managing Director of ClearSky Accounting, the business start up specialist, discusses how doing what you love, and letting the experts look after the things you hate can make all the difference to a successful business.

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Friday, December 17th, 2010

The Government finally sounded the death knell for Employee Benefit Trusts (EBTs) after the Finance Act 2011 was published last week, and it’s fair to say that the announcement surprised no one. HMRC has been quite aggressive in its language when discussing tax avoidance of late and the clamp down was expected, particularly so when you consider that the additional tax take for HMRC as a result is conservatively estimated at around £500 million a year.

And whilst EBTs had a place when those using the schemes were made fully aware of the risks involved and knew exactly what the scheme was and how it worked, thousands of contractors when facing investigation by HMRC, will have felt they were mis-sold to.

Contractor accountant companies such as ClearSky, and our sister umbrella company Parasol, have worked hard to raise standards and encourage best practice in the contractor services industry over the years. However, not all service providers shared this vision and this has ultimately been to the contractors’ cost. Not many will now shed a tear for EBTs.

There will be a large number of contractors looking at alternative options for running their business now as the clock ticks down to the implementation of the Finance Act in April and we’ve already had a large number of phone calls from contractors and freelancers asking us to explain the new legislation and discuss the options that are open to them.

We’ve been directing them to some of the online guides that are available as well so here is the link again for anyone who would find them useful.

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Thursday, September 23rd, 2010

HMRC has been turning its attention on what it calls the sharp rise in the number of allegedly illegal dividends and director loans drawn by the owners of limited companies in recent weeks.

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Friday, May 21st, 2010

Comparing apples with pears – when comparing contractor accountants, make sure you are comparing like for like!

One of the things that constantly concern me about the contractor accountancy market is the lack of transparency by some service providers. This typically takes the form of a low headline monthly fee used to entice new business but which conveniently neglects to mention some of the expensive add-ons, joining/leaving fees and all the other additional costs that can sneak up on busy contractors who haven’t had the time to go through the small print in much detail. Read the rest of this entry…


Wednesday, May 12th, 2010

As the dust settles on one of the most compelling election nights in recent history and the new Prime Minister begins to assemble his first cabinet, the nation’s attention has begun to turn towards figuring out what it all actually means for them personally. Read the rest of this entry…


Wednesday, February 24th, 2010

With an ever increasing need to access personal and business information on the move, the next generation of consumer smartphones have allowed many business professionals alike, to jump on the band wagon to improve the way in which they do business, communicate with each other and interact and keep in the know with personal and business information.

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