Managed Service Company (MSC) Legislation
Managed Service Companies essentially take over the running of a contractor's limited company. Such MSC providers / 'composite companies', particularly in the past, would group such companies together into 'schemes' in order to minimise tax and NI liabilities.
Managed Service Companies - Latest
The Government has stepped up the number of firms it is investigating via the Managed Service Company legislation for underpayment of tax and National Insurance.
(Jan 11, 2013)
A contractor services organisation has called on recruitment companies to make sure they are compliant with industry legislation, following news that one agency and its director are facing a large Transfer of Debt notice under the Managed Service Company rules.
(Apr 13, 2011)
A new survey suggests that less than a quarter of contractors polled felt confident that they were operating within the Managed Service Company rules.
(Nov 11, 2008)
HMRC have released a guidance document on the managed service company legislation. Includes indicators of whether a service provider may be an MSC provider.
(Jul 12, 2007)
An overview of the Managed Service Company legislation and how it applies to contractors. How to recognise an MSC provider.
(Mar 30, 2007)
Details of the law that defines Managed Service Companies (MSCs) and explains how they will be penalised under the new tax legislation, have finally been obtained.
(Mar 22, 2007)
A Managed Service Company Legislation Calculator has been launched to help UK contractors work out whether they will be affected by forthcoming changes to tax legislation due to be announced in the Budget today.
(Mar 21, 2007)
The Times reports that The Treasury may compromise on the date the "third party rule" element of the MSC legislation will take effect.
(Mar 12, 2007)
The PCG has submitted its formal response to the Governments Managed Service Company (MSC) proposals.
(Feb 28, 2007)
There appears to be some confusion within the freelance industry with regard to the proposed MSC Regulations and if they apply to Umbrella Companies who have an HMRC Dispensation to pay expenses.
(Feb 13, 2007)
Gordon Brown's intention to crack down on Managed and Composite Service companies has been well reported within the contracting market, but if you are working through a company which falls under this definition do you really know what to do?
(Feb 7, 2007)
In light of the Chancellor's Pre-Budget Announcement on Managed Service Companies (MSC's), what now for IT Contractors?
(Dec 13, 2006)
Pre budget report 6 December 2006: New managed service company legislation proposed - legal analysis of the new proposals, what might this mean for contractors?
(Dec 11, 2006)
The recent pre-budget report by the Chancellor of the Exchequer, Gordon Brown, has sounded the death knell for Composite or Managed Service Companies - an opinion piece written by Simon Dolan.
(Dec 7, 2006)