Definition of "professional accountants" in the context of MSC providers

[freshblue]

Well surely yes, if that was part of his service agreement with the client..........

Agreed but I think HMRC will look at big providers of IR35/PSC services and use the terms around "ongoing financial benefit" to look at providers. Most large IR35/PSC "accountancy" providers still advertise around net return and income before actually knowing what the solution is, as I stated previously those I think are the sort of providers HMRC will look at after the MSCP crowd.

[THEPUMA]

Interestingly, 1st Contact, previously a major MSC provider, have just announced that they are going to apply for regulation with the ICAEW.

They obviously believe that this is crucially important.

[Cowboy Bob]

Interestingly, 1st Contact, previously a major MSC provider, have just announced that they are going to apply for regulation with the ICAEW.

They obviously believe that this is crucially important.

You're only saying that because you're registered with them. Seriously, this thread sounds like you're saying "my company is registered with ICAEW and yours isn't so nah, nah, nah, nah, nah". Makes you sound unprofessional IMO...

[THEPUMA]

Fair point Bob. Naturally, I wouldn't be making quite such a song and dance about it if we weren't Chartered.

But equally I think it is a point which may be of interest to many of the readers of this forum that Tarlo Lyons, 1st Contact and, most importantly, HMRC, have all made statements implying, directly or indirectly, that some form of professional qualification is crucial to be exempt from being an MSC provider.

[Nixon Williams]

I think that it is unfortunate that some contributors are following Giant's lead and using scare stories for thier own business opportunity. I believe that most users of this site want honest facts and not tainted opinions.

The Finance Bill makes no mention of a professional qualification is necessary to be exempted from the MSC leglislation, to quote from the Bill:

"A person does not fall within subsection (2)(c) merely by providing
legal or accountancy advice in a professional capacity." (ie capacity not necessarily qualified)

Being a qualified accountant, it would not concern me if this was a requirement but to state that it is a requirement is false and misleading.

Note:unlike the use of Solicitor etc, the use of "Accountant" is not protected and anyone can describe themselves as such.

Alan

[simondolan]

Simon

I agree entirely. In addition to being a professional accountant, you must not promote and facilitate the use of companies to provide the services of individuals.

This thread was not particularly targetted at you. It was generic.

But when you say you "qualify", I am still unclear whether or not SJD as a firm is regulated by the ICAEW. Can you clarify?

Joel

Check out the website Joel, you will be able to see precisely the huge spread of qualifications we have.

[THEPUMA]

Simon

Suitably ambiguous. I'll take that as a No.

Alan

Have you read the HMRC guidance notes issued on 30/03/07? If not, I'll save you the trouble:-

"The term "in a professional capacity" means that professionally qualified persons normally would not be considered to be an MSC provider...".

Now I don't think that that is ambiguous but maybe I am trying to scaremonger and bully people like Giant.

[THEPUMA]

Being a qualified accountant, it would not concern me if this was a requirement but to state that it is a requirement is false and misleading.

Alan

Hopefully you have now read my previous post and can accept that some sort of professional qualification may be required?

And let's just clarify. Alan may have some form of accountancy qualification but Nixon Williams Limited is not regulated by an accountancy body (or if it is, does a very good job of hiding it).

Whether a certain individual within an accountancy practise has a qualification or not is not going to make a blind bit of difference. It will be whether or not the practise itself is regulated.

You may accuse me of being unprofessional but I am not trying to mislead my clients into thinking I am something which I am not.

[cojak]

Fight!

[simondolan]

Simon

Suitably ambiguous. I'll take that as a No.

Alan

Have you read the HMRC guidance notes issued on 30/03/07? If not, I'll save you the trouble:-

"The term "in a professional capacity" means that professionally qualified persons normally would not be considered to be an MSC provider...".

Now I don't think that that is ambiguous but maybe I am trying to scaremonger and bully people like Giant.

Joel, you are starting to sound a little desperate now.

Lets talk about your Company for a while seeing as we are considering credibility here.

You say you are Hillier Hopkins, but you are not, you are HH Contractor Services Ltd, T/a Incorporate-uk. The website you advertise on the main HH site links to a registered domain holding page.