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Budget News

Hexagon's reaction to the Budget Speech - 21st March 2007

Chancellor Gordon Brown has today delivered his long awaited Budget speech.

On Managed Service Companies:

As anticipated, the Managed Service Company (MSC) legislation will go ahead, although the definition of a Managed Service Company is broader than expected and will not be finalised until the forthcoming weeks.

To which extent, Hexagon has taken the pre-emptive step of withdrawing it's Managed Service Company (Composite) product as of 1st April 2007.

All contractors will be given the option of moving to one of our three new products which have been developed as a result of consultation with Price Waterhouse Coopers and HMRC.

Your first port of call should be our team of expert advisors who will keep you abreast of any new developments.

On third party transfer of debt :

The Chancellor has announced a delay to the legislation on Third Party Transfer of Debt until January 2008.

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