members voluntary liquidation Articles

How to Close Your PSC if You’re Affected by the Banking Contractor Ban
marketing | 20 November 2019
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Some of the nation’s largest banks are forcing personal service company (PSC) contractors to go on the payroll, a move that will leave many with dormant limited companies. Here’s how you could close your PSC in a tax efficient manner if you’re affected by the banking sector contractor ban.

Under reforms to off-payroll working legislation, large organisations will be made responsible for judging a PSC contractor’s IR35 status from 6th April 2020.

Members Voluntary Liquidation (MVL)

Umbrella Accountants are working with SFP Corporate Solutions Limited (SFP), as a preferred business partner, to provide a cost effective solution where shareholders are looking to close down their company and extract funds utilising Entrepreneurs Relief.

 

The SFP Group are a multi award winning mid-tier insolvency practise. SFP work with a significant number of accountants across the UK and are fast becoming a leading name in the MVL market.

 

The partnership provides a value added service that may be relevant to a significant number of Umbrella Accountants clients.