UK Intermediary Companies and Top Models: Income tax & National Insurance - the Fashion Spot
How to Join
Peter Adediran's Avatar
Join Date: Sep 2008
Location: London
Gender: homme
Posts: 1
UK Intermediary Companies and Top Models: Income tax & National Insurance
Higly paid elite models that work through intermediary companies will have to think more about their tax positions in the UK. Especially now with the credit crunch and with nearly all clients cutting back on expenditure. On 6 April 2007 Chapter 9 ITEPA 2003, more commonly known as the Managed Service Company (“MSC”) Legislation, was introduced. The MSC Legislation applies to individuals providing their services through intermediaries which meet the definition of a Managed Service Company. An intermediary must consider whether the MSC Legislation applies before considering IR35. Intermediaries that do not meet the definition of an MSC must continue to consider IR35. If the IR35 does apply to you then you have to pay income tax and national insurance contributions on any payments that you receive during the year and report any taxable benefits. Your company or partnership will also need to work out what the deemed payment is to find out if any additional tax and NICs will be due at the end of the tax year (or earlier in some circumstances).

  Reply With Quote
Previous Thread | Next Thread »

companies, income, insurance, intermediary, models, national, tax, uk
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

monitoring_string = "058526dd2635cb6818386bfd373b82a4"

All times are GMT -5. The time now is 03:07 PM.
Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd. is a property of TotallyHer Media, LLC, an Evolve Media LLC company. ©2018 All rights reserved.