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Service Providers Association launches code of conduct for umbrella companies
Posted Nov 20, 2009
The Service Providers Association (SPA) has launched a new code of conduct for umbrella companies and businesses providing support services to limited companies.
The organisation was formed last year, and includes three of the industry's leading companies; Giant, Brookson and Parasol. Association members offer professional services to tens of thousands of contractors across a range of sectors including IT, healthcare, oil and gas, energy and finance.
The industry-leading code of conduct outlines the strict standards and legal guidelines that apply to the service providers sector, designed to encourage best practice across the industry. Compliance will allow reputable service providers to demonstrate their commitment to ethical operating practices, while reassuring freelance workers and users of freelance services that they are dealing with professional organisations.
As part of the code of conduct process SPA members will also undergo an independent review from one of the 'big four' accountancy practices, with the review documentation being voluntarily submitted to HMRC - an act of open-book accounting and independent assessment that demonstrates their commitment to principled and transparent business practices.
The association's new website also launched today. It's aim is to provide industry news and advice, as well as applications for membership.
A Service Providers Association spokesperson said: "SPA was founded to represent the interests of professional freelance workers and encourage professionalism and transparency throughout the service providers sector. The code of conduct we are launching today represents a vitally important step forward in this process and is significantly, supported by HMRC. We look forward to continuing our work on behalf of freelance workers while building Government and regulators understanding of our industry."
The service providers sector is thought to be worth around £100 billion and is estimated to have grown by as much as 20% between 1998 and 2008.
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