042 What Is MSC Legislation And How Might It Affect You?
Managed Service Company (MSC) legislation has come to the fore in recent months following news that HMRC sent tax bills to numerous self-employed contractors after accusing their accountant of breaching MSC rules. It’s quite likely that you’ve never heard of MSC legislation, even if you’re a seasoned contractor, so what on earth is it all […]
MSC Survivors Group Set Up To Help Affected Contractors
ContractorCalculator, in conjunction with tax specialist David Kirk & Co has set up the Managed Service Company (MSC) Survivors Group in response to HMRC’s move to investigate contractors and accountants who they believe are caught within the Managed Service Companies (MSC) Legislation. The MSC Survivors Group is urging contractors to establish if their accountant is […]
Warning: Does Your Accountant Have Too Much Control?
In yet another attack on contractors working through their own limited companies, HMRC has now sent tax bills to 1,000 contractors after accusing their accountancy firm of breaching managed service company legislation. In essence, the specialist accountancy firm Churchill Knight & Associates has been accused of controlling their clients’ limited companies such that the limited […]
What is Managed Service Company legislation?
If you work through a limited company and have a specialist company supporting your financial affairs then you need to be aware of the government’s Managed Service Company (MSC) legislation. But what is an MSC, and why should you be aware of it? An MSC is basically when a contractor’s business is controlled too tightly […]