Charles Goddard answers a query on fees paid to non-executive directors
Question
My question relates to IR35 and fees paid to non-executive directors. Given the changes in Finance Act 2013 I would like to understand the practical implications for one of my clients. This is a company which has a number of non-executive directors who as well as performing a director function provide a variety of consultancy services. They each charge a fee for the time they spend on the company’s business. Two of them are engaged through separate companies: one is appointed by a company shareholder in my client; and the other is the director’s own personal service company. I am aware that FA 2013 changed the IR35 rules so that it now catches any payments to an officeholder but what are the implications for my client and the directors?
Answer
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Charles Goddard answers a query on fees paid to non-executive directors
Question
My question relates to IR35 and fees paid to non-executive directors. Given the changes in Finance Act 2013 I would like to understand the practical implications for one of my clients. This is a company which has a number of non-executive directors who as well as performing a director function provide a variety of consultancy services. They each charge a fee for the time they spend on the company’s business. Two of them are engaged through separate companies: one is appointed by a company shareholder in my client; and the other is the director’s own personal service company. I am aware that FA 2013 changed the IR35 rules so that it now catches any payments to an officeholder but what are the implications for my client and the directors?
Answer
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
