New advice: sure you're not an MSC?
Posted by AccountingWEB in Tax on Thu, 11/12/2008 - 12:43
HMRC recently published extra guidance on intermediary companies and Managed Service Companies (MSCs).
The Managed Service Company (MSC) regime was introduced because, although the IR35 applies to some intermediary companies enforcing the rules is too difficult and time consuming for HM Revenue and Customs. Additionally, even when a tax debt was established, MSCs would invariably escape payment by ceasing to trade.
- Under IR35 the contractual nature of the relationship between the worker and the client is examined and any deemed earnings are subject to PAYE and NICs.
To read the rest of the article you'll need to log in below
If you've forgotten your details click here for a reminder.
If you haven't got an account, it only takes a minute to set one up,
click here to register
- 1734 reads
- login or register to post comments
- Add to a social bookmarking site
Want to win £500 of digital photography goodies? 
Love it? Hate it? We want to know what you think of the new design and how we can make it even better. Post your views in our new 
Got an opinion you want to share with the rest of the community? Then login and