Churchill Knight & Boox clients being investigated as Managed Service Companies

[eek]

Ironic post from QDOS given their attempts to wheedle out of their insurance doing the work

Post | Feed | LinkedIn

Contractors, have you received a letter from HMRC regarding your MSC compliance?

We are hoping to speak with a contractor willing to chat with a national newspaper - anonymously if preferred - regarding the issue, which is set to impact thousands of contractors.

Please email our PR agency on, [email protected] or message us on here.

#MSC #Contracting

posted in case anyone wants to respond...

[jamesbrown]

Ha, yes. Qdos insurance (probably of any kind) = worthless, no huge surprise. However, to be fair, this is a systemic risk in a way that IR35 isn't.

[eek]

Ha, yes. Qdos insurance (probably of any kind) = worthless, no huge surprise. However, to be fair, this is a systemic risk in a way that IR35 isn't.

Yep - what's interesting on LinkedIn is watching the start of accountants panicking - 3 weeks after we first became aware....

[eldy]

Have they sent you the small print that sets this out? I had a look through the policy wording the other day and couldn't see anything to this effect. I know they don't cover the tax liability for MSC but nothing in the tax enquiry section.

No, my policy is coming up to renewal so a good time to ask them and referred them to the QDOS news article about this MSC issue where it seemed they would be happy to do so, so quite surprised at response I got from them.

[GregRickshaw]

[/QUOTE]

Ironic post from QDOS given their attempts to wheedle out of their insurance doing the work

Post | Feed | LinkedIn



posted in case anyone wants to respond...

Because the FT clearly doesn't count!

[Peoplesoft bloke]

This just popped up on my Linkedin feed - someone has posted suggesting he takes a look at recent HMRC developments.

[jamesbrown]

Yep - what's interesting on LinkedIn is watching the start of accountants panicking - 3 weeks after we first became aware....

I'm afraid they should be, not because of the actual risk of the MSC legislation (IMHO), but because a lot of people will be leaving accountants. Assuming you're able to handle your accounts yourself (and should be, in order to review them properly) and you mainly used an accountant to do the leg work and/or review, it just isn't worth the risk anymore, fighting the line of "involved with". I wouldn't even bother with a review of the draft accounts anymore (otherwise assisted by FA or Xero throughout the year), even though it's at the very low-risk end of the spectrum. It's moronic in terms of the wider UK economy but, whatever.

[eek]

This just popped up on my Linkedin feed - someone has posted suggesting he takes a look at recent HMRC developments.

We've read the same thread - I did look at that and go what...

[superdoodle]

Think we need to group together offline from here. Is anyone interested in a WhatsApp group? We need to take collective action and I'm concerned about posting publicly here.

[GregRickshaw]

And away we go.... third marketing email from 'accountants' today

Rearrange this sentence... "horse the stable bolted door close after the "