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Treasury to compromise on MSC tax laws?

Published on Mar 12, 2007

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The Times has published a news article which suggests that the Treasury may be happy to compromise on the timetable to implement the Managed Service Company legislation:

"The Treasury has sought to compromise on a key plank of proposed measures in the Budget on March 21 to tighten income tax laws for contractors and freelancers.

It is understood that Gordon Brown has heard submissions from the financial and support services industries protesting that the proposed law could render “third parties” liable for contractors’ tax debts."

You can read the entire article here.

ATSCo recently submitted its response to the MSC proposals - one of its main criticisms was the suggested speed of implementation - see this extract from a recent news release:

"There are many logistical for employment businesses in implementing these changes, not least because considerations with respect to third party liability have not been finalised."

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