accountants keep my vat gain from flat rate

[r0bly0ns]

How is PayStream an MSC? As long as you have you own company, your own company bank account then they are not MSC are they?

Depends on wether or not you run your own company.

If they are doing your invoicing and collecting your money for you, sounds like an MSC to me.....

[Bluebird]

Don't Paystream only deal with INSIDE IR35 - so whether they are an MSC is a moot point....

[Kylie4485]

Don't Paystream only deal with INSIDE IR35 - so whether they are an MSC is a moot point....

Thats the impression I got, hence why I asked the question "did you set your own limited company or did they set you up in a 'single person' Umbrella company.

[Bluebird]

My 'accountants' gave me an off the shelf limited company, which I was then named as director of.

Thats the impression I got, hence why I asked the question "did you set your own limited company or did they set you up in a 'single person' Umbrella company.

Looks like it was the single person umbrella option...

[Kylie4485]

Looks like it was the single person umbrella option...

hmmmm, no comment

[vhadiant]

Don't Paystream only deal with INSIDE IR35 - so whether they are an MSC is a moot point....

There's an option about setting up your limited company which is different from their umbrella company & single person umbrella company. What's that then?

[Bluebird]

couldn't see that on the website ?

link ?

[jo99]

I was with a MSC before I set-up my own company.

My company was my own one with me as the only shareholder. The accountants were the directors. Have had lots of problems with them. The company is still not closed.

Also now realised - they kept the difference in the VAT. The company was registered with the flat rate scheme - which I only found out when I asked how I claim the VAT back on a laptop I bought.

I am sure all the MSC providers did this. They also charged v high monthly fees for their 'serivice'. Interestingly they were selling the VAT savings after the April changes - to remain with them.

Would be interesting to know if you can get the money back....

I am considering writing to them to see what reaction I get.

[Bluebird]

I was with a MSC before I set-up my own company.

My company was my own one with me as the only shareholder. The accountants were the directors. Have had lots of problems with them. The company is still not closed.

Also now realised - they kept the difference in the VAT. The company was registered with the flat rate scheme - which I only found out when I asked how I claim the VAT back on a laptop I bought.

I am sure all the MSC providers did this. They also charged v high monthly fees for their 'serivice'. Interestingly they were selling the VAT savings after the April changes - to remain with them.

Would be interesting to know if you can get the money back....

I am considering writing to them to see what reaction I get.

I would guess you'd need to find out the VAT number, then find out whether or not is was registered for FRS.

Worth looking into though...

[vhadiant]

couldn't see that on the website ?

link ?

http://www.paystream.co.uk/services/...yservices.html