Hi guys, am I being a little thick here??!!
An Umbrella Company - employs contractors, the contractors are NOT shareholders and therefore receive no dividends.
An MSC - employs contractors, the contractors are NOT shareholders and therefore receive no dividends.
If the above is true, how the h3ll can Umbrella Companies continue to offset Expenses for contractors and MSCs (post the new legislation) cannot?
Someone in work has suggested that its because an Umbrella Company will have more than one worker. If that was the case, surely an MSC could simply 'employ' another contractor, define themselves as an Umbrella Company and 'Bob's your Uncle' allow the contractors to offset expenses?!
Please help me ....Cheers
An Umbrella Company - employs contractors, the contractors are NOT shareholders and therefore receive no dividends.
An MSC - employs contractors, the contractors are NOT shareholders and therefore receive no dividends.
If the above is true, how the h3ll can Umbrella Companies continue to offset Expenses for contractors and MSCs (post the new legislation) cannot?
Someone in work has suggested that its because an Umbrella Company will have more than one worker. If that was the case, surely an MSC could simply 'employ' another contractor, define themselves as an Umbrella Company and 'Bob's your Uncle' allow the contractors to offset expenses?!
Please help me ....Cheers
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