CoComply provides a platform for managing IR35 compliance by classifying contractor status and monitoring direct and indirect contractor headcount. The solution enables organizations to identify all contractors, generate compliance reports, and maintain ongoing assessments to mitigate risks and ensure adherence to regulations.
Funding
Funding not disclosed
Founders
Product
Problem
Many organizations struggle to accurately identify and classify their contractor workforce, leading to potential non-compliance with IR35 regulations and associated financial risks. A lack of visibility into direct and indirect contractor headcount within service spend further complicates compliance efforts. Traditional methods often involve manual processes and limited data analytics, making it difficult to maintain ongoing compliance and generate necessary reports for HMRC.
Solution
CoComply offers a SaaS platform designed to streamline IR35 compliance management by providing tools to discover, classify, and monitor workers within an organization's services spend. The platform enables users to identify all contractors, including those hidden within vendor ecosystems, and classify them as either independent or on-payroll. CoComply facilitates ongoing compliance through AI-driven checks and expert reviews of contracts, statements of work, and working practices. The solution also generates comprehensive reports on averted risk, ROI, tax savings, and other key metrics, providing organizations with the data needed to demonstrate compliance to HMRC.
Target Audience
CoComply primarily targets organizations, including SMEs and multinational corporations, that engage contractors and are subject to IR35 regulations, as well as services procurement teams and MSPs managing contractor contingent programs.
Features
- Vendor analysis feature to classify vendor types and uncover hidden contractor suppliers.
- Automated classification of contractors as independent or on-payroll.
- AI-driven checks for ongoing compliance monitoring and periodical reassessments.
- Expert reviews of contracts, statements of work, and working practices.
- Instant HMRC reporting capabilities.
- Data analytics dashboard providing insights into ROI, tax savings, and risk areas.
- Seamless migration from existing systems, including historical assessments from CEST or other third parties.
- Classification of Statement of Work (SoW) spend and associated invoices across service types.