Providing exceptional services and tax expertise to contractors is one of our specialities. When we were approached to become a member of the newly created Professional Contractor Service Organisation (PCSO) in 2014 we knew it was a good fit.
One objective of the PCSO is to ensure high quality standards are maintained by its members. PCSO members are audited bi-annually by PwC to ensure all operating procedures, taxation and accounting policies are best practice. This in turn protects contractors using the services of those members and therefore the reputation of the umbrella company sector in Ireland.
A second objective of the PCSO is to act as a voice for contractors. The PCSO’s mission is to help establish a clear, fair and practical, tax and legislative framework in Ireland for contractors. During the Revenue’s National Contractor Audit Project, Fenero were vocal about what we, and many others, considered to be unfair tax treatment of contractors. Joining forces with the PCSO gives us the opportunity to continue speaking up against tax inequities.
One of the most contentious tax issues affecting the contracting sector is a change in Revenue’s stance on certain travel expenses, which has meant contractors are no longer entitled to claim travel expenses to locations previously considered to be temporary places of work. The PCSO have challenged this and prepared a submission document last year in relation to the Department of Finance consultation on the Tax Treatment of Travel & Subsistence for Employees and Office Holders. A copy of the submission is available here.
The PCSO is currently preparing another submission document, which will this time go to Department of Finance and Department of Social Protection on their consultation paper which is due at the end of March 2016. The subject is again highly relevant to contractors and covers being the “Use of Intermediary-type Structures and Self-employment Arrangements”.
Working patterns and working environments have changed significantly over the last 20 years. Many more individuals are choosing to provide their expertise to businesses as professional contractors. Some countries have recognised this and have developed their tax and legal structures to nurture professional contractors, as they see the enormous benefits these individuals bring to national economies. We must ensure Ireland does not lose its competitiveness in attracting the best talent. We continue to lobby on these issues on behalf of contractors with the PCSO.
If you would like more information on the PCSO and our work with it, please contact our team at hello@fenero.ie
