Essentially, an MSC is a company which provides the services of an individual and is controlled or unduly influenced by someone other than that individual who is the director and shareholder. In summary, the MSC legislation gives teeth to Treasury's traditional view that if you take advantage of the tax benefits of working through a limited company you must be genuinely in business, taking business risks and making business decisions; no one else can do this for you.
It is however perfectly acceptable for you to seek the advice of an accountancy service provider, like PayStream. In fact it is the sensible thing to do. To give our clients comfort we have been audited by Professional Passport and BDO LLP for compliance with MSC legislation.
If you are concerned that your current accountancy service provider is in breach of MSC legislation, please contact us immediately and let us tell you about our compliant services.