Access Financial International SA
 
Newsletter: August2011
Access Financial International SA
 
 
New Solutions from AF
New Solutions from AF
We are delighted to announce the launch of our new solutions for France and Tunisia. We think that we are the only management company that can offer all possible lawful solutions in these two markets. We now have locally employed and posted solutions offering the highest retentions legally possible.
Online Work Permit
Tracking Exclusively
from Access
We have expended our online offering of the Compliance Manager on your desk provided by Access.com, our in-house developed ERP platform to allow online tracking of work permits and visas. This takes a step nearer to realising complete transparency with our clients as to progress on both compliance and immegration work. The initial responses to this system have been almost rapturous and we are demonstrating this to our clients by appoinment.
For more information on our new solutions and Work permit tracing contact
Tom Harris at tom.harris@accessfinancial.com or telephone: +44 20 7017 3116 or mobile: +44 7715 102019
 
 
Recent APSCO meeting
Recent APSCO meeting
I was recently invited to appear at the APSCO European Forum when I was asked if the use of a UK Personal Services Company was a good idea when working abroad. In short, my answer was that European tax authorities are very willing to lift the veil of incorporation of one-man bands which they perceive as a total tax loss.
We know this to be a fact in The Netherlands; Germany and Belgium and see why other tax autorities should not similarly be on the warpath. Such companies pay no local income tax; social security; VAT or corporation tax. Nor an they use the advantages of a Double Tax treaty.

In most cases, AF can provide a legal retention as high or even higher in some cases that respect the relevant laws of the work country. Any recruitment business that continues to permit their use is not only in breach of APSCO's Code of Conduct but is potentially playing with fire both financially and, perhaps more importantly with reputational damage. We would ask all serious minded recruiters to bear this in mind when allowing their contractors to operate abroad through their own PSCs.
If you are serious about compliance and your reputation contact us for a
no-obligation discussion on how we may be able to manage your risk.
 
 
Liechtenstein disclosure facility
Since its launch in 2009, the Liechtenstein Disclosure Facility has yielded HMRC £140 million, the government department's latest figures have revealed.

Originally, the Revenue expected to yield £1 billion from the LDF by 2015 but the figure has been revised to £3 billion after the encouraging uptake.

By the 31st March this year, 1.351 people had registered their intent to take advantage of the lower penalties offered by the LDF. In March 2010, just 419 registrations had been received.
China acting tough on corruption
China Mobile's former Vice Chairman and Executive Director, Mr Zhang chunjiang has been sentenced to death following the conviction for bribery. The sentence has been suspended for two year, and pending good behaviour it may then be commuted to life in prison.

If you are interestd in working legally in this vast market please talk to our Shanghai office. contact John Young at
john.young@accessfinancial.com
HMRC IR35 Defeat
The case, brought against Elaine Richardson, who was operating under her Limited Company ECR Consulting, was last week ended with Ms. Richardson emerging victorious, avoiding a potential fine of £50,000

ECR Consulting was contracted by Vertex Data Science, and subsequently attracted the attentions of HMRC, who launched an investigation into the relationship between the two companies, believing Ms. Richardson to be a “disguised employee”.

The tribunal used three test to determine the employment status of the contractor-, and. The judges said of the ruling - Mutuality of Obligation, Substitution and Control

“It is clear to us that ECR is a genuine business and therefore not a target of the IR35 legislatin”.

 

‘ECR operates from a dedicated business area at her home. It has a company domain and website. ECR advertises its services and is a member of the PCG. It has retained reserves and invested in development and has over the years taken on fixed price work for a variety of clients.’

Accountax, who fought the case for ECR Consulting, said that HMRC are starting to grow tired of these high-profile IR35 defeats -

‘There are thousands of these cases, but somehow they never seem to make it into HMRC's manuals. The last few IR35 cases that have been prosecuted by HMRC - there just does not seem to be the appetite that there was a few years ago. It’s almost as if HMRC is weary of the legislation themselves.’

 
 
Bribery Act
The Bribery Act entered into force on july 1st 2011. For more information go to
http://www.justice.gov.uk/guidance/docs/bribery-act-2010-guidance.pdf
Agency Workers Regulations
The new regulation come into force on 1st October 2011. For more information see
http://www.bis.gov.uk/assets/biscore/employment-matters/docs/a/11-949-agency-workers-regulations-guidance.pdf

These regulations do not affect those working outside the UK for whom there is no change. It should be borne in mind that similar; stronger and more diluted incarnations of the EU Directives have been implemented in Europe for some time.
 
 
About us
Not all our clients necessarily know much about us. Here are some statistics about us:
  • Agencies we have dealt within the past 2 years - 650
  • Number of countries covered - 64
  • Cover all 31 EU & EFTA states -31
  • Size of Technical Team - 7
  • Size of IT programming team - 6
Offices:
  1. Amsterdam, The Netherlands
  2. Brussels, Belgium
  3. Frankfurt, Germany
  4. Fribourg, Switzerland
  5. Ho Chi Minh City, Vietnam
  6. Limassol, Cyprus
  7. New Delhi, India
  8. Nyon, Switzerland(Headquarters)
  9. Paris, France
  10. Shanghai, China
 
 
New Brochures
We now have the following new brochures available for download.
To obtain them click below:
Africa Solutions
South Africa;
Kenya, Tanzania;
Ghana
& Nigeria
Asian solutions
China, Hong Kong, Singapore, Vietnam, Malaysia, Indonesia, Japan and India
EEA &
Switzerland
Solutions

All 31 EU and EFTA countries
New India Solutions
3 new solutions
Conto Direct
The Netherlands
Please contact us if you need hard copies
 
Swiss Headquarters
Chemin de Precossy 7,
Case Postale 2123,
CH-1260,Nyon,
Switzerland

Tel:+41 22 365 4620
Fax:+41 22 365 4621
United Kingdom office
Barbican House
24-36 Old Street,
London,
EC1V 9QQ

Tel:+44 20 7017 3110
Fax:+44 20 7017 3119
Cyprus offilce
Suite 402, Pavlides Court,
Corner of Ayiou Andreou &
Archbishop Kyprianou Street,
3036 Limassol

Tel:+357 25 820 640
Fax:+357 25 341 027


Access Financial International S.A. | Chemin Precossy 7 | Case Postale 2123 |NYON | 1260 | Switzerland