BrassTax news

Service Companies: to tick or not to tick?

The self-assessment tax return now contains a question (page 4) requiring the taxpayer to state the "Total amount of income included anywhere on this Tax Return, derived from the provision of your services through a service company" and refers to page TRG 15 of the guidance notes.

There has been some debate as to whether HMRC are entitled to ask the question and what are the consequences of refusing to answer it: or indeed about exactly what is meant by a "service company" in this context. We have produced a guidance note with examples which sets out our view of the matter. We hope that readers may find it helpful though as always reliance on it is at your own risk.

For help on this or any other (tax!) matter please contact help@bkltax.co.uk or your usual consultant. And for more on BKL Tax visit our revamped website www.bkltax.co.uk.