I thought of sharing with you something which signals to me much tighter regime in future for owner managed companies providing their services through limited company. If you are running your business using your own limited company then you should not stop here and must read full email.

Last year, the Inland Revenue began collating data of individuals that generate income through Service Companies. Also, this year, the Revenue clarified what a Service Company means for the first time. Be warned, therefore, that contractors and consultants working through their personal service companies will be under the Revenue's radar.

It's never clear what the Revenue will do with the information it gathers but it will almost certainly signal a tighter regime for contractors. The Revenue is collating the same information via the P35 Return which reiterates their future intention over tighter regime.

This is yet another cunning attempt to squeeze hard-working law-abiding citizens in order to cover up the big mistakes of the people sitting at top. The saga continues...
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Our mission to save tax and protect our client will surely help us to find a way out of this problem if they come with more tight and tough regime.  In the mean we will keep you updated on any further developments.

 

Have a nice day.

 

Sincerely,