The Professional Contractors Group has submitted its response to the government's consultation on proposed measures to tackle managed service companies (MSCs).

Before 6 April 2006 the first £500 of the benefit in kind charge arising on the private use of employer provided computer equipment was exempt from tax. As the ‘annual value’ benefit in kind on the use of an asset is calculated as 20% of the market value of the asset when first used to provide the benefit, this exemption generally covered any potential benefit in kind.

Recruitment agencies are insisting that they should not be liable for outstanding tax owed to HM Revenue & Customs (HMRC) by contractors.

Clients are advised to check that the correct postage is attached to any envelope sending documents to Companies House.

As the end of the financial year fast approaches, now is the perfect time to take stock of personal financial affairs.