One word of warning
Just be careful that your accountant is not promoting the IR35 insurance, as this increases the risk of being an MSC. This is because it is one of the five activities that shows they (your accountant) are an MSC provider:
"Fifth activity - that of giving or promoting an undertaking to make good any tax loss. Prior to April 2007, the typical MSC scheme offered the client an “IR35 proof” model. Sometimes that came with insurance, with the guarantee that if HMRC successfully challenged the IR35 proof status of the company, there would be no financial consequence for company or worker.
Where subsequent to April 2007, a MSC Provider or an associate either offers insurance against the tax/NIC liabilities arising under the MSC legislation, IR35, or indeed any other provision of the Tax Acts or National Insurance legislation, they will be involved with those client service companies to which they either offer, or promote, such insurance."
Just be careful that your accountant is not promoting the IR35 insurance, as this increases the risk of being an MSC. This is because it is one of the five activities that shows they (your accountant) are an MSC provider:
"Fifth activity - that of giving or promoting an undertaking to make good any tax loss. Prior to April 2007, the typical MSC scheme offered the client an “IR35 proof” model. Sometimes that came with insurance, with the guarantee that if HMRC successfully challenged the IR35 proof status of the company, there would be no financial consequence for company or worker.
Where subsequent to April 2007, a MSC Provider or an associate either offers insurance against the tax/NIC liabilities arising under the MSC legislation, IR35, or indeed any other provision of the Tax Acts or National Insurance legislation, they will be involved with those client service companies to which they either offer, or promote, such insurance."
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