Government closes tax loop

March 2007
People Management;3/8/2007, Vol. 13 Issue 5, p14
The article reports on the decision of the British government to investigate organizations that employ staff through managed service companies (MSCs) to exploit a tax loophole. About 250,000 British staff, including teachers and nurses, currently use MSCs in an arrangement that minimizes tax payments. It is stated that under such schemes, the worker receives a minimal taxable salary but is paid mostly in the form of dividends via the MSC, income that is taxed at a lower rate.


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