Whats happened to Brookson?

**Anderson** · 14 August 2007, 12:23

Last I heard they have over 7,000 people on their books, so sounds like they're doing ok to me..... lot better than Prosperity 4!

**eddiegee** · 14 August 2007, 13:31

Originally posted by Anderson View Post

Last I heard they have over 7,000 people on their books, so sounds like they're doing ok to me..... lot better than Prosperity 4!

ye i know, are they legit accountants? well P4 are old news now aint they.

**Anderson** · 14 August 2007, 14:12

I know Brookson got caught out by the new MSC legislation, and lost a fair few member because of it. But they now claim to be a ''leading accountancy and tax service provider to freelancer professionals'' rather than an MSC.

I used to be one of their members and was very happy with their services until the new legislation came along and they came to a grinding halt. I have friends who are still with them, and they say things have improved.

I set up my own company and now use SJD... and feel a lot happier.

**eddiegee** · 14 August 2007, 14:42

So what does the MSC actually do to contractors though?

dont need complicated answers, something just simple.

**Anderson** · 14 August 2007, 14:53

You'll probably find a much better explanation by searching this forum.

MSC = Managed Service Company.
This is what Brookson used to offer, in that they would do everything for you for a fee of about £30 a week. You could just sit back and receive your hard earned money each week with a pay slip detailing how much was salary, PAYE, NI, expenses and dividend, not having to worry about anything really. Then the HRMC decided to crack down on this and basically forced them to shut down.... well as MSC providers anyhoo.

**eddiegee** · 14 August 2007, 15:23

Originally posted by Anderson View Post

You'll probably find a much better explanation by searching this forum.

MSC = Managed Service Company.
This is what Brookson used to offer, in that they would do everything for you for a fee of about £30 a week. You could just sit back and receive your hard earned money each week with a pay slip detailing how much was salary, PAYE, NI, expenses and dividend, not having to worry about anything really. Then the HRMC decided to crack down on this and basically forced them to shut down.... well as MSC providers anyhoo.

Thanks for the explanation

**bangface** · 14 August 2007, 17:42

Originally posted by Anderson View Post

I know Brookson got caught out by the new MSC legislation, and lost a fair few member because of it. But they now claim to be a ''leading accountancy and tax service provider to freelancer professionals'' rather than an MSC.

I used to be one of their members and was very happy with their services until the new legislation came along and they came to a grinding halt. I have friends who are still with them, and they say things have improved.

I set up my own company and now use SJD... and feel a lot happier.

Nearly all the MSC's rebadged themselves as 'leading accountants' in a frenzy to try and outsmart the way in which the legislation was drafted, unfortunately for them HMRC already put the mockers on that!!

Whats happened to Brookson?