Employed or self employed?...

If you have any queries relating to your status then please review this blog.

http://truemanbrown.blogspot.com/2010/10/employed-or-self-employed.html
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For efficient accounting services go to www.truemanbrown.co.uk

Re : Employed or self employed?

One of the most common questions people have no doubt when starting their own business is how to present themselves legally: employed, self employed, sole trader, ltd company and so on.

Also the transition from one to another as things change for them I'm sure can be quite tricky.

Re : Employed or self employed?

Going from self employed into a limited company scenario is not as tricky as you may think.
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For efficient accounting services go to www.truemanbrown.co.uk

Re : Employed or self employed?

Interesting information. I will check it. Thanks

dave,

Re : Employed or self employed?

Great blog. I want to be self employed. To own a business.

Re : Employed or self employed?

In any instance it's best to become Ltd in my view (although accountants may suggest otherwise because of the costing) the simple reason being is that the company then becomes a separate legal entity to yourself, so if things go wrong you only have a limited liability with respect to the company. Its safer for you financially basically. Albeit slightly more expensive in some cases.

Go Limited!!!


JP

Re : Employed or self employed?

Yes the limited liability element is undoubtedly one of the most attractive elements - unfortunately some less scrupulous business owners seem to hide behind this fact.

Re : Employed or self employed?

One point I would make,and very much concerns subcontractors in the construction industry, is do not take the Inland Revenue status questionnaire as gospel.

Over the last few years, the Inland Revenue have been trying to scare contractors into re-analysing their subcontractors as employees. The Inland Revenue will often point to their questionnaire which is naturally biased against subcontractors.

In particular, if the contractor can prove that their is NO 'mutuality of obligations' between himself and the subcontractor then the contractor should stand his ground.

Under normal employment conditions there exists a 'Mutuality of Obligation', in that the employer is obliged to provide work for the employee, and the employee is obliged to accept it. For an employee there is an expectation of regular employment until they are made redundant or leave on their own accord.
__________________
For efficient accounting services go to www.truemanbrown.co.uk