HOW TO ACCOUNT FOR MANAGED SERVICE COMPANIES?
I am attached to a small practice where I am in charged of a small portfolio of clients.
I was recently approached by two new clients who are on Payroll with NHS. In addition, they do bank work as Nurses with a Recruitment Agency. They thought they could save tax if they were to be paid for their bank work with the Agency through an incorporated company.
I have never dealt with Managed Services Companies, I need your professional guidance on how to account for these types of companies. Can I advice future clients to rather register as Self-Employed for their second job if possible?
Thanks for your kind help, very much appreciated.