Legislation affecting interim managers
There are many key pieces of legislation that an interim operating through a limited company must consider.
It is not necessary to learn the fine print of these regulations, but it is important to be aware of the basics. In many cases your accountant will be able to deal with the relevant paperwork and correspondence from HM Revenue & Customs and Companies House for you.
Due to the Agency Workers Regulations that came into force on October 1st 2011, we now strongly emphasise that all interim managers must work through their own limited company. There is information about how to set up a limited company in our section devoted to setting up in business.
The following areas of legislation are relevant to interim managers working through a limited company:
- IR35
- Money Laundering Regulations (MLR) 2007
- VAT
- PAYE
- Filing accounts
- Self-assessment
- Corporation Tax
Who can help?
For advice on setting up a limited company from scratch, as well as guidance on all the above legislation and how it affects you, we recommend that you speak to an expert at Competex Ltd. Competex is a specialist accountant for interim managers and consultants, and can be easily reached during office hours on 01737 234567. To get started and set up a limited company straight away with Competex, you need to download their company formation documents.