Key group restructures but clients not affected, MD promises
5 September 2012
The restructuring of umbrella company Key group, whose brands include My Key Pay and Key Portfolio, will not have any negative impact on agency clients, managing director Tony Harris tells Recruiter.
Wed, 5 Sep 2012
The restructuring of umbrella company Key group, whose brands include My Key Pay and Key Portfolio, will not have any negative impact on agency clients, managing director Tony Harris tells Recruiter.
The umbrella company’s brands My Key Pay and Key Portfolio previously belonged to Melville Holdings and a limited company of the same name respectively. Key Portfolio Ltd has now been liquidated, and both brands are now licensed to K P Professional Employment Solutions (KPPES).Key has around 16,000 contractors on its payroll, Harris tells Recruiter, making it one of the country’s biggest umbrella firms.
KPPES is an existing company whose name has been changed, Harris explains. Previously, it was Key Professional Partnership (Ayr), a company owned by Key group’s accountants Key Professional Partnership.
Harris says the company “wanted to ensure there was financial independence to protect our clients and employees”, all of who have know transferred to KPPES under TUPE [Transfer of Undertakings (Protection of Employees)] regulations.
He also says that Key group wanted to become part of an existing company rather than a brand new one because “we have certain arrangements with HMRC and we wanted to preserve these, and floating as a completely new company would have set us back.”
The restructuring of umbrella company Key group, whose brands include My Key Pay and Key Portfolio, will not have any negative impact on agency clients, managing director Tony Harris tells Recruiter.
The umbrella company’s brands My Key Pay and Key Portfolio previously belonged to Melville Holdings and a limited company of the same name respectively. Key Portfolio Ltd has now been liquidated, and both brands are now licensed to K P Professional Employment Solutions (KPPES).Key has around 16,000 contractors on its payroll, Harris tells Recruiter, making it one of the country’s biggest umbrella firms.
KPPES is an existing company whose name has been changed, Harris explains. Previously, it was Key Professional Partnership (Ayr), a company owned by Key group’s accountants Key Professional Partnership.
Harris says the company “wanted to ensure there was financial independence to protect our clients and employees”, all of who have know transferred to KPPES under TUPE [Transfer of Undertakings (Protection of Employees)] regulations.
He also says that Key group wanted to become part of an existing company rather than a brand new one because “we have certain arrangements with HMRC and we wanted to preserve these, and floating as a completely new company would have set us back.”
