What defines a PSC?

[Sally@InTouch]

Just like they don't keep stats on IR35 take, yeah right!

...that Susie Hughes got hold of and published on shout99 a couple of weeks ago!

[tractor]

..

...that Susie Hughes got hold of and published on shout99 a couple of weeks ago!

I should have clarified, they claimed for years that they don't keep those stats when of course, we all knew that they did. Although I must admit I don't often look at S99 these days, my bad

[d000hg]

PSC - anyone who should morally pay more tax than they are legally obliged to.

This is a serious thread for discussing how we define a PSC, not if it's right a PSC is treated differently.

[LisaContractorUmbrella]

This is a serious thread for discussing how we define a PSC, not if it's right a PSC is treated differently.

Love the smiley gallery d000hg

The fact is that PSC or Personal Service Company was a term that was introduced by HMR&C to distinguish between a one person limited company and a company with more than one person and therefore that can be the only definition

[malvolio]

...that Susie Hughes got hold of and published on shout99 a couple of weeks ago!

That were sourced from the PCG's FOI requests plus a bit of arm-twisting.

[d000hg]

Love the smiley gallery d000hg

The fact is that PSC or Personal Service Company was a term that was introduced by HMR&C to distinguish between a one person limited company and a company with more than one person and therefore that can be the only definition

So if you ran a 1-man Ltd buying and selling on eBay, you're technically a PSC?

[LisaContractorUmbrella]

So if you ran a 1-man Ltd buying and selling on eBay, you're technically a PSC?

If you are registered as a Ltd Co then yes

[SueEllen]

If you are registered as a Ltd Co then yes

But if I have 2 directors is the company still a PSC?

[Contreras]

So if you ran a 1-man Ltd buying and selling on eBay, you're technically a PSC?

No.

But if I have 2 directors is the company still a PSC?

Yes.

You provided your services through a service company if:

• you performed services (intellectual, manual or a mixture of both) for a client (or clients), and
• the services were provided under a contract between the client(s) and a company of which you were, at any time during the tax year, a shareholder, and
• the company’s income was, at any time during the tax year, derived wholly or mainly (that is, more than half of it) from services performed by the shareholders personally.

Linky.

[SueEllen]

But the definition you gave is the same as a closed company.

And HMRC has a nice manual defining what a closed company is but not an equivalent one for a personal service company.