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The Lords’ conclusions on personal service companies
KEY POINTS
- House of Lords’ select committee reports on the use of personal service companies.
- Tax advantages and employment right disadvantages.
- IR35 and subsequent legislative developments.
- A lack of enforcement and engagement with IR35.
- Disappointment at the refusal of HM Treasury to cooperate with the parliamentary enquiry.
Personal service companies (PSCs) have been a controversial topic on the tax agenda for a long time. Such companies can offer significant tax and commercial advantages but are often frowned upon by HMRC.
In November 2013 an ad hoc committee of the House of Lords examined the consequences of the use of PSCs for tax collection against the current IR35 legislation.
The committee observed that from the start distinct areas needed to be scrutinised if the “complexity of issues” were to be...
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