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Any suggestions for specialist help

Any suggestions for specialist help

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We act for a small VC fund who take positions in turnaround companies and then act as the directors of the invested company.

The VC LLP take fees from the investment and then the LLP distribute to the LLP members.

Very low levels of Directors remuneration is paid through paye to the acting directors.

One of the invested company's have had a routine paye visit and the officer inspecting cannot understand this arrangement and has raised assessment to paye.

We have pointed the officer to EIM00730 but the officer is not moving.

Any suggestions as to specialist help we can engage to support our work dealing with this enquiry?

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By Portia Nina Levin
25th Apr 2016 11:12

You will have missed the FA 2013 changes to the IR35 legislation then?

There was talk at the time that audit fees would fall within IR35 as a result of the changes. That is probably incorrect because audit engagement partners tend not to perform the work personally. I am also not convinced that an auditor is an officer of the company; it may be an office (although even that is arguable if you examine the Companies Act), but that does not necessarily make the auditor (who should be independent) an officer of the company.

But I digress.

With a choice between Shergar winning next year's Grand National, and you winning this at tribunal, my money is going on Shergar I am afraid.

EDIT: Who has the officer assessed incidentally? The company or the LLP? If they have assessed the company that is incorrect; the assessment should be made on the LLP.

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By James Green
25th Apr 2016 19:29

Thank you Portia
The assessment has been raised on the company not the LLP.

This mistake has already been pointed out to the officer.

As principle, the officer does agree with eim00730, they just do not believe it applies here.

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