Island CSP triumphs in recruitment industry awards

Ramsey-based corporate services provider FPS Group has beaten off competition from across the UK to be named winner of the Payroll World Awards 2014.

The company, which offers admin services to the UK's recruitment industry, won the title Best Umbrella Service Provider.

Umbrella companies are employment vehicles which act as a bridge between worker and recruitment agency, ensuring PAYE income tax deductions are made while the individual works on multiple assignments with different employers. 

FPS Managing Director Matthew Huddlestone described the win as 'hugely rewarding', especially as the Payroll World Awards' judging panel includes representatives from HMRC.

The company says it works had to counter negative publicity in the UK over perceived tax avoidance issues.

It does not utilise its Isle of Man location to gain tax advantage for its clients but instead promotes what it the 'significant advantages' of being based here, citing its positive relationship with the Isle of Man VAT office.