Managed Service Company Legislation … and why you need to be aware of it
- 12:30PM - 1:30PM, 26 May 2022
In March of this year HMRC wrote to around two-thousand contractors saying they believed they were running a Managed Service Company (MSC). As such, said HMRC, the contractors owed thousands of pounds – tens-of-thousands in some cases - in unpaid taxes.
What did all these contractors have in common? They all used one of two accountancy service providers, both of which specialise in contractors, and which it turns out had been under HMRC’s microscope since 2019. HMRC say these accountancy service providers were in fact Managed Service Company Providers (MSCPs) and have exerted undue influence over the affairs of their clients’ (the contractors’) companies. The accountancy providers strongly refute the MSCP accusation.
It seems likely that HMRC is seeking to apply this line of investigation more broadly, so if you are not currently aware of the MSC legislation, now is a good time to start thinking about it. Join this webinar with IPSE’S Andy Chamberlain and Paul Mason from Markel to find out more about how the legislation works and what you need to do if you get a dreaded Regulation 80 MSC determination notice.
The webinar will cover:
- The status of the current enquiry – what happens next?
- How has IPSE been helping its members who are affected?
- What is an MSC and what is an MSCP?
- What can contractors do to protect themselves?
- Why is HMRC doing this and what are planning next?
As always there will be plenty of opportunity to ask questions during the live webinar but you can also submit them in advance when registering for the event, or email them through to [email protected].
This session is free of charge to attend for both members and non-members. Registration is essential - please book now to register your attendance. This webinar will be hosted on Zoom Webinar.