Just seen this. . .
LL
MSC legislation
HM Revenue & Customs issues warning on Managed Service Company
legislation
HM Revenue & Customs (HMRC) has issued new guidance on the
Managed Service Company (MSC) legislation, and warns that it
intends to take action against non-compliant companies.
HMRC says that where it considers that companies and partnerships
otherwise fall within the Managed Service Company legislation,
but claim not to be MSCs because the provider is an officer/partner
of the intermediary, these companies and partnerships are in
fact MSCs.
"HMRC will now look for suitable cases to investigate and,
where appropriate, challenge and litigate."
The three types of intermediaries identified by HMRC as
being potential 'targets' are:
the 'self-employed model' where contractors work as sole traders
via a specialist company
the self-employed' model as above but under Construction
Industry Scheme (CIS) rules.
Offshore providers
HMRC says the guidance has been issued after it "considered fully"
the arguments advanced by various types intermediaries as to why
they are not MSCs.
Martin Hesketh, managing director of accountancy, tax advice
and financial support services provider Brookson, told Recruiter
that the guidance was a clear message that the Revenue was serious
at "enforcing the MSC legislation", including the debt transfer
provisions. These could affect agencies, where they were involved
with non-compliant companies, added Hesketh.
The guidance is contained on HMRC's website:
http://ase.emv3.com/I?a=A9X7CkCPJ9dasIhvz,bMfBzvfg
LL
MSC legislation
HM Revenue & Customs issues warning on Managed Service Company
legislation
HM Revenue & Customs (HMRC) has issued new guidance on the
Managed Service Company (MSC) legislation, and warns that it
intends to take action against non-compliant companies.
HMRC says that where it considers that companies and partnerships
otherwise fall within the Managed Service Company legislation,
but claim not to be MSCs because the provider is an officer/partner
of the intermediary, these companies and partnerships are in
fact MSCs.
"HMRC will now look for suitable cases to investigate and,
where appropriate, challenge and litigate."
The three types of intermediaries identified by HMRC as
being potential 'targets' are:
the 'self-employed model' where contractors work as sole traders
via a specialist company
the self-employed' model as above but under Construction
Industry Scheme (CIS) rules.
Offshore providers
HMRC says the guidance has been issued after it "considered fully"
the arguments advanced by various types intermediaries as to why
they are not MSCs.
Martin Hesketh, managing director of accountancy, tax advice
and financial support services provider Brookson, told Recruiter
that the guidance was a clear message that the Revenue was serious
at "enforcing the MSC legislation", including the debt transfer
provisions. These could affect agencies, where they were involved
with non-compliant companies, added Hesketh.
The guidance is contained on HMRC's website:
http://ase.emv3.com/I?a=A9X7CkCPJ9dasIhvz,bMfBzvfg
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