How will IR35 changes affect the “dispersed”, “umbrella” or “virtual” legal service providers?
What is a “dispersed” or “umbrella” or a “virtual” legal service provider?
These firms are essentially a legal hub with a minimal bricks and mortar presence supporting a central admin and IT staff and they operate using a bank of consultant lawyers operating through their own individual personal service companies (“PSC”) tied in various ways to the central firm.
Fees earned are effectively shared between the individual PSC of the solicitor giving the advice to/acting for the client and the central firm. A good description of these types of firms written by LexisNexisPSL can be read here.
This article was originally written by Patrick Cannon for Contractor Weekly, the full article can be read by following this link.
You can now purchase Patrick Cannon’s updated edition of Tolley’s Stamp Taxes for 2019-2020 which is an alphabetical, accessible, invaluable guide to stamp duties. This easy-to-use guide sets out the relevant charge to stamp duty or exemption in relation to all commonly met instruments and transactions. Find out more and purchase the text here.