'MSC latest' download

HMRC has published (3rd December 2008) two articles outlining their response to emerging developments in the Service Company sector:

• “How sure are you that your Company is not a Managed Service Company?” and,
• “Are you sure of the CIS status of the construction intermediary you are paying?”

It is clear from these articles that HMRC is looking closely at “intermediary companies claiming not to be Managed Service Companies.”

Brookson’s customers are not affected by this guidance due to our considered response to the Managed Service Company (MSC) legislation brought in so quickly last year. When it was introduced we made huge investments of finances, time and resources into developing HMRC compliant solutions for our customers, transferring them into legitimate Personal Service Companies (PSCs), or providing them with our employment (umbrella) solution.

Brookson as a contractor accountant however, has always been an advocate of best practice within our industry and we welcome the issue of this guidance. We have therefore drafted a detailed response to help provide background to, and analysis of, the new guidance and looking at:

• The sort of companies and service models being targeted by HMRC
• The very real risks to contractors using these companies and service models

Request your free guide today:

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