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Which IT Contractor Personal Service Company (PSC)? IR35 Advice News Jobs Money Forum   Which Personal Service Company? Author Gerry McLaughlin Date 10/5/2007   Article: Personal Service Company With the demise of Composite Companies, the Personal Service Company has come to the fore. It seems that the only two options left for IT Contractors is the PAYE Umbrella Company or the Personal Service Company. So what is a Personal Service Company? Is it just a Limited Company? A Limited Company could be either a Personal Service Company or a Managed Service Company. IR35 A Limited Company may be subject to intermediary legislation (IR35) and can operate without that basis or within that basis (within in this context means in or out of IR35). A Managed Limited Company is a suggestion of a controlling influence that is the business's own whereas a Personal Service Company implies that it is managed by the contractor and not by anyone else. Also, a Limited Company is just the bare company whereas product offerings for Personal Service Companies from service providers would include not just the company set up but would include the admin like invoicing and telling contractors how much they have to pay in tax and VAT, and perhaps they would contain various insurances as well. PSC Support A proper PSC support package can help a business develop but fundamentally the control remains with the Directors of that business. The business owners run the business, outsourcing some of the non-core functions of the business but they keep control of it. . If you would like your company to be added to the directory contact us at info@itcontractor.com Go back to out our article list!   Umbrella Companies | Personal Service Companies | Company Set Up | Foreign Exchange | Contractor Insurance | Contract Search | IT Contract | Contractor Mortgages | Contractor Pensions | IR35 | Umbrella Company

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