Does HMRC think you’re a Managed Service Company?
Contractors are receiving letters saying that HMRC think their PSCs are actually MSCs (managed service companies). This is very bad news. Act now.
MSC Tax Tribunal outcome could have wider repercussions for contractors, warns expert
Contractors who used an MSC provider could be at risk following the Christianuyi Ltd & Ors v Revenue & Customs ruling, warns Andy Vessey of Qdos.
Managed Service Company (MSC) legislation – key guide for contractors and agencies
Contractors using managed service companies are taxed as employees. Debt transfer rules allow HMRC to ask agencies/clients for contractors’ tax owed.
Contractor tests to see if suppliers are Managed Services Company (MSC) providers
Contractors can avoid MSC rules and non-compliant service providers, says Stuart Davis in his first interview since becoming SPA Chairman.
Will contractors foot the bill for HMRC blitz on Managed Services Company providers?
New guidance issued by HMRC targets offshore and self-employment MSC providers, leaving contractors at risk from debt transfer provisions.
Audit standards for service providers help contractors
Contractors will be aided by having service providers who can comply with HMRC audit standards. It's about getting good advice.
Contractors risk falling into dodgy schemes under new law
The plan to audit service providers will mean that new contractors get good advice and avoid traps
Contractors with limited companies see new rules for recruitment
Contractors who have their own limited companies already set up before they contact recruitment agencies will not expose the agencies to any risk in terms of tax debt transfer.
Audit scheme planned for contractor providers
The Revenue expects to provide guidelines that will lead to the creation of an audit scheme for contractor service providers. Which means that you will once again be able to ask your agent about who should do your taxes.
Contractors could benefit from provider audit scheme, JSA says
An audit scheme for contractor service providers that would declare them free of the taint of managed service company status could help the entire industry, Barry Roback of JSA says.
Providers for contractor companies may face audits, but not accreditation
HMRC is mooting schemes to accredit or audit service providers to contractor companies to ensure that they are not managed service companies. But there is no commitment to such a scheme, and consideration is just starting.
Contractors need reliable advice, says Barry Roback of JSA
As JSA's Barry Roback points out, contractors need reliable advice and can't get it from their agencies now that the managed service company legislation has kicked in. Accrediting service providers would offer a solution.
Contractors should avoid taint of MSC brush, says lawspeed
Now that the managed service company legislation is in place, contractors should take specific steps to avoid risk.
Changes in the final MSC draft offer help to contractors
Jonathan Legg of Lawrence Graham explains the importance of the changes made before the final draft of the MSC legislation was established.
Managed service companies - new revenue guidance for contractors
Contractors have a better idea of what the managed service company legislation means for their businesses now that the Revenue has issued guidance about it. But some areas, regarding agencies for example, need more.
Contractors should vet providers carefully, says HMRC
At a meeting organised by the PCG, Treasury policy director Robin Wythes told contractors to carefully vet their service providers to ensure that they do not fall under the new managed service company legislation.
Contractors resent treasury attack, JSA poll shows
A survey of contractors by JSA shows that a vast majority resent the attack by the Treasury on managed service companies, and, indeed, feel unjustly singled out by it.
Treasury sheds light for contractors on managed service companies
Financial Secretary to the Treasury John Healey explained the intentions of managed service company in a House of Commons Committee Debate.
Accounting firm JSA defines status with contractor companies
The contractor-specialised accounting group JSA shows definitively that it does not run managed service companies.
Exclusive interview: conservative MP Villiers offers hope for contractors on MSC attack
In an exclusive interview with ContractorCalculator, the Honourable Theresa Villiers, Conservative MP for Chipping Barnet, tells us that there is hope for some improvement on the MSC attack by the Treasury
Conservatives seek to protect contractors from MSC legislation citing "collateral damage''
On April 30, Conservative MP Theresa Villiers attacked the new MSC legislation in a parliamentarty debate, calling it ''unreasonable new administrative burdens...that affect the UK's ability to compete in a global market.''
MSC legislation will affect relationships between contractors and agencies
The new legislation that penalises managed service companies will definitely affect the relationship between recruiters, agencies, and contractors. Here's what you should know.
Contractors need to know what is a managed service company?
The definition of an MSC is becoming the object of controversy. The Professional Contractors Group sets the record straight.
Contractors should tread cautiously with their providers
Are scheme providers clear about the new Managed Services Company (MSC) legislation and what it means for their customers?
After the MSC legislation what should contractors do with existing contracts?
In the light of the Managed Service Companies (MSC) legislation in the recent Budget, what options do contractors have open to them with their contracts and what should they do to make sure they are compliant?
Contractors: don't wait to seek advice on MSC's
The Lawspeed Seminar on MSCs held on April 3 showed us that there's not much certainty on what to do under the new legislation.
Contractorcalculator survey shows that we're not prepared!
A survey by ContractorCalculator shows that far too few contractors are prepared to make the changes they need to make before managed service company legislation goes into effect on April 6.
Treasury replies to wave of protest from contractors
The Treasury today replied to questions from ContractorCalculator about managed service companies.
Brown's attack on contractors could backfire
Comment on the text of the new MSC attack from the Treasury suggested that much case law willl be needed to handle unresolved issues.
Contractor exclusive: brown defines managed service companies
ContractorCalculator offers an exclusive: the text of the law in the budget that will change the way you do business: managed service companies.