Contractors and Personal Service Companies
Contractors are a specialist field with their own issues. In recent years we have developed close relations with a number of specialist Contractor Accountants advising both them and their clients on all aspects of insolvency. Lines Henry are IPSE Affiliates and regularly provide speakers for IPSE events.
It has become increasingly apparent that the Government and HMRC are keen to focus on this area as they perceive an advantage is being taken by Contractors. Our experience suggests that this is far from the truth. The reason why many Contractors trade through a limited company are a result of the interaction between Employment law and Tax advice from their accountant. Most Contractors we deal with have to trade through a limited company as the agencies they obtain contracts through insist on it.
We consider that IR35 is going to become an increasing issue for this sector with more Enquiries by HMRC. We anticipate that many small companies will not have the resources or desire to challenge HMRC should they be found liable. In these circumstances we can assist in putting the company into liquidation.
For those companies that have accumulated substantial cash reserves, we provide a quick MVL service to unlock the shareholder’s funds.
Where the company is facing demands for unpaid tax from HMRC we provide free confidential advice. We can assist the director to place the company into Creditors Voluntary Liquidation where necessary.
Contact us on 0800 012 6648 to discuss the issues you have. We are here to help.
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