Originally posted by LisaContractorUmbrella
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Previously on "Employer's NI Allowance scheme - closes 6th August 2016"
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Originally posted by unixman View PostAh yes, sorry. I remember when MSCs were outlawed, come to think of it.
The term I am ranting against is "personal service company".
if we assume they're not complete idiots (a stretch, I'll admit, but let's assume just for now) then they'll write it up with sufficient loop hole-closing so that a contractor paying themself a relatively low salary can't claim it (regardless of "employing" their husband/wife, children, dog, grandmother)
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Ah yes, sorry. I remember when MSCs were outlawed, come to think of it.
The term I am ranting against is "personal service company".
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Originally posted by unixman View PostOff topic but HMRC habitually refers to "managed service companies", a novel concept it has introduced in order to advance a wooly argument IMO.
If you have a limited company with just you running it, you certainly aren't an MSC.
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Originally posted by LisaContractorUmbrella View PostAccording to this https://www.gov.uk/claim-employment-allowance you can't claim if you're inside IR35 and then here https://www.gov.uk/government/upload...eligibilty.pdf it says
"Personal and Managed Service Companies
You cannot claim the allowance for any deemed payments of employment
income. However, you can claim the Employment Allowance against the
employers Class 1 NICs arising on the earnings paid to your employees"
All of my paperwork, articles of association, official company documents, and statutory accounts, refer to my company as a "limited company". There is no mention whatever of "managed service company". Neither is "managed service company" mentioned in any contract, or in letters sent or received, or orally either by me or my clients.
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Originally posted by pr1 View Postif we assume they're not complete idiots (a stretch, I'll admit, but let's assume just for now) then they'll write it up with sufficient loop hole-closing so that a contractor paying themself a relatively low salary can't claim it (regardless of "employing" their husband/wife, children, dog, grandmother)
Otherwise, the idiots will probably write it so I can't use it on my kids' salaries even though my kids are bringing in contracting revenue.
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if we assume they're not complete idiots (a stretch, I'll admit, but let's assume just for now) then they'll write it up with sufficient loop hole-closing so that a contractor paying themself a relatively low salary can't claim it (regardless of "employing" their husband/wife, children, dog, grandmother)
Leave a comment:
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According to this https://www.gov.uk/claim-employment-allowance you can't claim if you're inside IR35 and then here https://www.gov.uk/government/upload...eligibilty.pdf it says
"Personal and Managed Service Companies
You cannot claim the allowance for any deemed payments of employment
income. However, you can claim the Employment Allowance against the
employers Class 1 NICs arising on the earnings paid to your employees"
So I would assume that if you are the sole employee of your company it won't be possible to claim it
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Employer Bulletin: August 2015
from April 2016 incorporated companies where the sole employee is the director will now be excluded from receiving this allowance.
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We are waiting for clarification on how it will apply as it could simply be avoided by paying a partner via the company or adding a second director.
At this time we do not know the fine print to say either way.
Based on the details available it appears a single person company will not be able to claim the allowance next year.
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Employer's NI Allowance scheme - closes 6th August 2016
As part of the summer budget on 8th July it was announced that the Employer's NI scheme will increase from £2,000 to £3,000 however that single employee businesses will no longer qualify.
The increase is enacted from 6th April 2016.
Is this also true for the MyCo eligibility?Tags: None
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