News

Compliance is important in every part of the recruitment supply chain, but increasingly, recruitment businesses need more than an assurance that their umbrella partners are doing things correctly. They need evidence.

That’s why we’re pleased to confirm that Key Portfolio (KPPES Ltd) is now SafeRec Certified.

SafeRec provides independent payroll auditing and compliance verification for the recruitment and umbrella industries. Our certification adds another layer of independent scrutiny to the controls we already have in place and gives recruitment agencies greater visibility over the payroll we process for their candidates.

What does SafeRec Certification involve?

Before certification, Key Portfolio underwent a comprehensive independent legal and operational review conducted by WTT Legal, a regulated UK law firm specialising in tax and employment law.

We have also integrated our payroll systems directly with the SafeRec platform.

This means that every payslip we generate can be received directly from our payroll software and independently audited by SafeRec. Payroll information is then cross-referenced against the corresponding Real Time Information (RTI) reported to HMRC.

SafeRec also performs ongoing checks against our HMRC tax account to help verify that the PAYE liabilities we report are being paid on time.

So this isn’t simply a certificate awarded after a one-off review. The important part for us is the ongoing verification.

What does this mean for recruitment agencies?

Recruiters understandably want confidence that the umbrella companies in their supply chain are operating correctly.

SafeRec gives our recruitment partners an additional independent source of information about our payroll and compliance.

Through SafeRec, agencies can receive ongoing reporting and access independent audit information covering workers supplied through Key Portfolio.

In practical terms, this provides another way to verify that:

• payslips have been calculated correctly.
• the payroll information reported to HMRC corresponds with the payroll we have processed.
• PAYE liabilities are being monitored against our HMRC tax account.
• our payroll activity continues to meet SafeRec’s compliance requirements.

It means agencies don’t simply have to take our word for it.

How does this fit with our FCSA Accreditation?

SafeRec Certification complements our longstanding FCSA Accreditation.

When we first joined the FCSA, one of the things we valued most was the independent scrutiny involved in the accreditation process. We still believe that meaningful compliance standards should involve proper external assessment rather than relying solely on what a provider says about itself.

SafeRec takes that principle a step further by adding ongoing payroll verification.

The two provide different forms of assurance, but together they give our recruitment partners greater visibility over how Key Portfolio operates and how their candidates are being paid.

Why have we done this?

The umbrella market is changing.

With greater scrutiny of labour supply chains and the introduction of measures such as Joint and Several Liability, recruitment businesses quite reasonably want stronger evidence that the providers they work with are operating compliantly.

We already have comprehensive payroll and compliance controls in place. SafeRec doesn’t replace them.

Instead, it gives recruiters and employees an additional independent way of verifying what we do.

For us, that is what matters.

FCSA Accreditation demonstrates that our overall umbrella operation meets recognised industry standards. SafeRec adds continuous independent scrutiny of the payroll itself.

We think that combination provides recruitment businesses with a stronger and more transparent way to demonstrate that they have chosen a compliant umbrella partner.

If you’d like to know more about our SafeRec Certification, or what the additional reporting means for your agency and candidates, just get in touch.