Plan It

[angusglover]

I don't mind as long as I can move away from them.

[Limited]

Plenty of accountants (SJD included) seem to offer Company Secretary services.

Surely this does not mean they fall within the definition of an MSC

Or does it?

[Ardesco]

I belive it is only an issue if your company was originally set up by an MCSP

[Limited]

so if the same place also did your company formation then they could be defined as an MSCP?

[Ardesco]

No, only if thier main business is creating managed service companies (Most accountants don't manage your LTD for you, you have to do that so they don't come into the picture).

As said before though i'm not fully up to speed on this legislation so I may be wrong, but it is definetly something to check out sooner rather than later.

[Bluebird]

No, only if thier main business is creating managed service companies (Most accountants don't manage your LTD for you, you have to do that so they don't come into the picture).

As said before though i'm not fully up to speed on this legislation so I may be wrong, but it is definetly something to check out sooner rather than later.

Role of thumb is the more you do yourself the less likely you will come under the MSC regulations...

[zathras]

How exactly do you think I am caught under the new laws?

It depends and like all modern tax law is a bit grey. Essentially it depends on how much control PLAN IT have over the company and being a Company Sec gives a lot of control (legally). In addition the IR have said that they are well aware that many MSC's are changing their services to 'get around' the legislation and they will be keeping a weather eye on those companies; so even by that you will be closer to being in the IR eyeline.