Preferred Supplier Lists (PSL)

Why A Preferred Supplier Lists (PSL) Is Important?

If you are a director of a limited company and self-isolating, you are entitled to claim SSP at £94.25 per week for the first 2 weeks. Please note you should be on the payroll of the company to be entitled to SSP and earning more than £118 per week.

Though the process of setting up a PSL system can be time-consuming, it’ll help create a proactive approach to supply chain management.

Things To Consider When Setting Up PSL

We have listed few important tips to create a successful PSL.

  • Are the suppliers on your list accredited by Professional Passport or FCSA?

    Both are industry-leading regulators who audit accountancy and payroll providers to ensure that in compliance with HMRC legislation.

  • Financial stability of the providers

    Check bank statements, last filed accounts, tax payments made to HMRC, any penalties incurred, etc.

  • Presence in the UK and additional services

    Reputation, experience, qualified, registered and located in UK– not overseas, bank account is held in UK, their partners for additional services like insurances, IR35 reviews, pensions etc.

  • Robust Compliance Processes

    Evidence of knowledge on legislations, strong internal control processes, GDPR compliant, provide auto-enrolment, all contracts available for inspection, policies for umbrella employees and MSC compliant for PSC’s.

Why DNS for your Preferred Supplier Lists (PSL)?

Established in 2005, we are an award-winning firm with in-depth knowledge of the contracting industry, keeping you and your contractor’s safe.

We are an accredited member of FCSA and Professional Passport, the leading regulators of UK contracting industry. Our team is hands-on on every step, providing exceptional support and customer service.

At DNS, we take compliance seriously and have robust processes in place to ensure we are fully compliant.

To arrange a meeting or for more information on creating a PSL,
please give us a call on 02035002658, or email us at info@dnsumbrella.co.uk.