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A consultancy company employs one consultant and an administrative assistant. In the first year of trading the company's turnover was £48 000. This rose in the second year to over £200 000 using contractors in Holland. It is not believed that IR35 applies to this company.
In the first year of trading to 31 March 2000 the administrative assistant Mrs X was paid a salary of £30 000. This was paid in equal monthly instalments and pay-as-you-earn and National Insurance contributions were deducted. The consultant Mr Y who is also a director of the company has other business interests and drew no remuneration from the company in that first year.
The Inland Revenue is currently enquiring into the corporation tax computation for this period which resulted in a loss carried forward after adjustments which have...
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