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Previously on "MSC's under the spot light. . ."

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  • Cheshire Cat
    replied
    Originally posted by Lazylobster View Post
    Just seen this. . .

    LL


    MSC legislation

    HM Revenue & Customs issues warning on Managed Service Company
    legislation

    HM Revenue & Customs (HMRC) has issued new guidance on the
    Managed Service Company (MSC) legislation, and warns that it
    intends to take action against non-compliant companies.

    HMRC says that where it considers that companies and partnerships
    otherwise fall within the Managed Service Company legislation,
    but claim not to be MSCs because the provider is an officer/partner
    of the intermediary, these companies and partnerships are in
    fact MSCs.

    "HMRC will now look for suitable cases to investigate and,
    where appropriate, challenge and litigate."

    The three types of intermediaries identified by HMRC as
    being potential 'targets' are:

    the 'self-employed model' where contractors work as sole traders
    via a specialist company

    the self-employed' model as above but under Construction
    Industry Scheme (CIS) rules.

    Offshore providers

    HMRC says the guidance has been issued after it "considered fully"
    the arguments advanced by various types intermediaries as to why
    they are not MSCs.

    Martin Hesketh, managing director of accountancy, tax advice
    and financial support services provider Brookson, told Recruiter
    that the guidance was a clear message that the Revenue was serious
    at "enforcing the MSC legislation", including the debt transfer
    provisions. These could affect agencies, where they were involved
    with non-compliant companies, added Hesketh.

    The guidance is contained on HMRC's website:

    http://ase.emv3.com/I?a=A9X7CkCPJ9dasIhvz,bMfBzvfg
    That URL doesn't look anything like HMRC's.
    C- Must try harder.

    Leave a comment:


  • eyetie
    replied
    Originally posted by pmeswani View Post
    Basically, if you are under an MSC and pretending to be a sole trader or working via an off-shore entity, get the hell away from them.
    After the variousinvestigations (e.g. of Batchworth/TRM), I thought this would be old news.

    Didn't HMRC announce mass redundancies today?

    Leave a comment:


  • basshead
    replied
    Blatant with an affiliate link. Don't click

    Leave a comment:


  • pmeswani
    replied
    Originally posted by badger7579 View Post
    Please provide an executive summary... I'm too busy...
    Basically, if you are under an MSC and pretending to be a sole trader or working via an off-shore entity, get the hell away from them.

    Leave a comment:


  • badger7579
    replied
    Please provide an executive summary... I'm too busy...

    Leave a comment:


  • Lazylobster
    started a topic MSC's under the spot light. . .

    MSC's under the spot light. . .

    Just seen this. . .

    LL


    MSC legislation

    HM Revenue & Customs issues warning on Managed Service Company
    legislation

    HM Revenue & Customs (HMRC) has issued new guidance on the
    Managed Service Company (MSC) legislation, and warns that it
    intends to take action against non-compliant companies.

    HMRC says that where it considers that companies and partnerships
    otherwise fall within the Managed Service Company legislation,
    but claim not to be MSCs because the provider is an officer/partner
    of the intermediary, these companies and partnerships are in
    fact MSCs.

    "HMRC will now look for suitable cases to investigate and,
    where appropriate, challenge and litigate."

    The three types of intermediaries identified by HMRC as
    being potential 'targets' are:

    the 'self-employed model' where contractors work as sole traders
    via a specialist company

    the self-employed' model as above but under Construction
    Industry Scheme (CIS) rules.

    Offshore providers

    HMRC says the guidance has been issued after it "considered fully"
    the arguments advanced by various types intermediaries as to why
    they are not MSCs.

    Martin Hesketh, managing director of accountancy, tax advice
    and financial support services provider Brookson, told Recruiter
    that the guidance was a clear message that the Revenue was serious
    at "enforcing the MSC legislation", including the debt transfer
    provisions. These could affect agencies, where they were involved
    with non-compliant companies, added Hesketh.

    The guidance is contained on HMRC's website:

    http://ase.emv3.com/I?a=A9X7CkCPJ9dasIhvz,bMfBzvfg

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