What is it?
The PCSO was established to support and promote the Professional Contracting Sector. Its mission is to establish a fair and practical tax and legislative framework in Ireland to cover the Professional Contracting Sector.
Why did it all Begin?
In 2014, the Professional Contractor Service Organisation (PCSO) was established by three of the leading Limited Company Providers in Ireland: Icon Accounting, ContractingPlus and MAC Accountancy.
Collectively, Gerard Kiernan (Icon Accounting) Michael Dineen (ContractingPlus) and Richard Collins (Mac Accountancy) set out on a mission to create an organisation to support and promote the Professional Contracting Sector.
What is the reason for the PCSO?
2013 saw the beginning of Revenue’s National Contractor’s Project which undertook a series of audits on Contractors and their business expenses claims. This Project triggered the discovery of mis-claiming of expenses and the use of non-compliant, off-shore structures, which many Contractors were unaware of.
With the global availability of unreliable and misleading information alongside deceptive advertising, the PCSO set out the mission to help establish a clear, fair and practical, tax and legislative framework specific to Ireland to cover the Professional Contracting Sector.
As result the PCSO implemented a Code of Practice, which ensures only the highest standards of advice and information are offered to Professional Contractors by its members, providing complete assurance and confidence to Contractors and Recruitment Agencies.
What is the Benefit of the PCSO for me and my Organisation?
Members of the PCSO organisation are bound by the Code of Practice which ensures only the highest standards of advice and compliant structures are offered to Contractors.
To become a member of the PCSO, all Accounting Service Providers must undertake a vetting process by PwC, to ensure their accounting and taxation procedures demonstrate best practise and compliance.
To date, Accountancy Service Providers within the PCSO include Icon Accounting, ContractingPlus, MAC Accountancy and Fenero.
How does the PCSO promote the Professional Contracting Sector?
The PCSO recognises the pivotal role and positive contribution of Contractors to the Irish Economy. Since the successful formation of the PCSO, a series of forums and panel discussions have already taken place; most significantly ‘The Future of Contracting’ with ongoing participation and engagement from Enterprise Ireland, IDA, Revenue Commissioners, Department of Jobs Enterprise and Innovation as well as Recruitment agencies, Multinationals and Irish based companies.
The PCSO advocates Ireland as a great place to do business however it has identified the need for the Government to bring the concept of the ‘normal place of work’ into the 21st century.
Work patterns from a decade ago are not the same as today, with rapid advances in technology and an increasing demand for flexible, skilled Independent Professionals Contractors.
With four submissions now lodged to the Department of Finance, the PCSO will continue to lobby for Independent Professionals Contractors and indeed the Irish Contracting Industry.
To review the submission lodged to the Department of Finance, please click here
If you require more information on the PCSO, please do not hesitate to contact us on 01-8077106 or email – Info@iconaccounting.ie