ICAEW BMPaul Monaghan

Chartered Accountant
Tel: 01895 473824

or 0788 403 3941

e-mail: paul@paul-monaghan.com

Personal Services Companies (PSCs) & IR35


There are special rules that apply to contracts where individuals provide their services to a client through a third party, such as their own limited company or partnership.


We offer guidance on whether you may have to comply with legislation commonly known as IR35, which brings the tax paid on certain contracts in line with the tax paid by employees.

The advantage for customers of PSCs are that they do not make deductions for Pay As You Earn (PAYE) or National Insurance contributions (NICs) from payments made under such a contract to PSC, but the downside for PSC operators is that IR35 legislation tries to recover and amount equivalent to NICs from the amount paid to an 'intermediary'. See the guide published by Business Link on individuals, companies and IR35 for further detailed information on this subject.

Our Personal Services Company support services include:

  • Advice and help in considering the legal structure under which you could provide your services to clients.
  • Advice on tax-efficient withdrawal of profits from your business.
  • Advice and help in setting up your business processes as a PSC.
  • For clients that do not want to run their own accounting and administration system, we offer a comprehensive portfolio of bookkeeping, PAYE, and VAT services.
  • Production of management accounts, annual accounts, Corporation Tax returns and Director's Income Tax returns.
  • Assisting clients in dealing with HMRC compliance enquiries under IR35.

Useful Link for Personal Services Company clients:

For a more general view of the professional contracting services industry, the following link provides some very useful information and articles: https://www.gov.uk/guidance/ir35-find-out-if-it-applies



We service clients in the Middlesex, South Buck and West London areas, including: Uxbridge, Hillingdon, Ickenham, Ruislip, Eastcote, Hayes, Harefield, Northwood, Cowley, West Drayton, Iver, Denham, Gerrards Cross Buckinghamshire ....and all surrounding districts.

Call 01895 473 824 for a no-obligation free initial consultation.