There are many in the industry who are unaware of the Managed Service Company legislation, therefore are at risk of potential consequences to its effects.
A Managed Service Company refers to a service company that provides contractors with a composite company solution to manage their invoicing and accounting.
The MSC legislation applies to individuals providing their services through intermediaries which meet the definition of a MSC.
All payments received by individuals providing their services through MSCs are subject to PAYE and National Insurance contributions.
Where the PAYE and NICs debts of an MSC cannot be recovered from the company, HMRC may transfer the debt personally to one of the following:
Ask away! One of our team will get back to you!