With all eyes in the contractor sector on IR35 reform, its easy to miss a pledge at Autumn Statement 2016 to develop HMRCs ability to spot emerging insolvency risks, writes Mike Smith, managing director of company turnaround specialists Jameson Smith & Co.
The first thing to appreciate when trying to fathom why the Revenue wants to take a closer look at limited companies in distress is that quite a few changes have been made already. The most visible sign, which PSCs might have noticed, is a renaming of departments and redefining of HMRC staff roles or job titles so you, the PSC on the receiving end of HMRC, know what to expect when they call.
Watching for insolvency isnt new (despite AS 4.52)
But these officials will tell y…
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