PSC's

[Gonzo]

Well, I could, but it is far more amusing not to, and on that point some humourless prat will, no doubt, tell you shortly.

Guilty

 

[andy]

shouldn't that be Personnel Service company ?
Personal service company is a bit ..erm too personal.

 

[SallyAnne]

Hi newbie

A personal service company is what HMRC now call your limited company that supplies your services.

And if people will keep using it it will become a generally accepted term along the lines of "disguised employee"

There is no legal basis for distinguishing different types of limited company in this way and it should not be encouraged.

Ah - so it was good that I didn't know what it was then yay me

 

[Kyajae]

shouldn't that be Personnel Service company ?
Personal service company is a bit ..erm too personal.

Sorry. I was having a quick fantasy. Better now!

 

[Captain Dispensable]

A personal service company is what HMRC now call your limited company that supplies your services.

Only if you voluntarily tick the box that asks "Is this company a personal services company?" i.e. We have this thing called IR35 but need you to tell us to apply it to you.

Hint: Don't tick the effing box!

 

[Burdock]

Sorry- dumb question- which box on which form are we referring to?

 

[Sockpuppet]

Hi I'm a newbie and have a daft question

What the feck is a PSC anyway? Is it the same sort of thing as an umbrella? Or is it another name for our limited companies?

Smilies cannot describe what I am feeling. I'll let you off as at 3 letters PSC is excluded from searches.

 

[Kyajae]

Smilies cannot describe what I am feeling. I'll let you off as at 3 letters PSC is excluded from searches.

Told you he wouldn't be happy!

 

[SallyAnne]

Told you he wouldn't be happy!

 

[Captain Dispensable]

Sorry- dumb question- which box on which form are we referring to?

Not 100% sure as my accountant does all the paperwork nowadays, but I think it might be this one on the P35 - Employer's Annual Return:

Do the rules relating to payments for services provided
through a Service Company or a Partnership apply to
any of your business income?

Or it may have been on the company incorporation forms. Just keep your eyes peeled it's out there somewhere!