Self empolyed
#1
Self empolyed
It looks as though my compnay will be going ahead with making people go self employed now
From what I've read so far is that if you're continuously employed this way for more than 35 weeks, then the company must take you on, which seems a bit bizarre to me!!
Also apparently, by doing this, they will save to company £500,000 a year. I've heard that it costs about £200 a week to keep a person on the books, so if that 50 people that will go S/E. it works out to £520,000PA.
I haven't got a clue whether this is true or not, but it looks like I may not have a choice!
What are the advantages of being Self Employed compared to being directly employed? I know I won't get holiday or sick pay so want to know as much as possible - fore warned is fore armed, Hopefully!!
From what I've read so far is that if you're continuously employed this way for more than 35 weeks, then the company must take you on, which seems a bit bizarre to me!!
Also apparently, by doing this, they will save to company £500,000 a year. I've heard that it costs about £200 a week to keep a person on the books, so if that 50 people that will go S/E. it works out to £520,000PA.
I haven't got a clue whether this is true or not, but it looks like I may not have a choice!
What are the advantages of being Self Employed compared to being directly employed? I know I won't get holiday or sick pay so want to know as much as possible - fore warned is fore armed, Hopefully!!
#3
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Paul,
No paid Holiday / sickness.
No Notice period / perceived security.
Additional responsibility to complete and return your tax return and pay your own tax.
But on the up side, generally you will pay much less tax, but talk to an accountant for exact info.
To allow for the holiday, the daily/hourly rate should be adjusted accordingly.
i.e now = Annual / 52 = weekly rate. for self employed Annual / 45-48 = weekly.
Certainly within the construction industry you have to be very careful about working for just one contractor, as you will be declared an employee rather than a sub-contractor.
No paid Holiday / sickness.
No Notice period / perceived security.
Additional responsibility to complete and return your tax return and pay your own tax.
But on the up side, generally you will pay much less tax, but talk to an accountant for exact info.
To allow for the holiday, the daily/hourly rate should be adjusted accordingly.
i.e now = Annual / 52 = weekly rate. for self employed Annual / 45-48 = weekly.
Certainly within the construction industry you have to be very careful about working for just one contractor, as you will be declared an employee rather than a sub-contractor.
#4
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With regards to your rights on saying NO, this depends on a lot of things; contract, length of service etc - best people to speak to are ACAS - they have some very good helplines.
With regards to tax - if it likely you will be doing all your work for one person (ie your current employer) then the Revenue may see it differently to your employer. If there are a lot of people involved then your employer may have already addressed this with HMRC.
I would suggest contacting your local tax office & ask to see someone regaring Status (the revenue term for deciding whether you are employed / self employed.) Each office / area has a Status Inspector, and the final decision on your status rests with them.
If I can help further shout!
With regards to tax - if it likely you will be doing all your work for one person (ie your current employer) then the Revenue may see it differently to your employer. If there are a lot of people involved then your employer may have already addressed this with HMRC.
I would suggest contacting your local tax office & ask to see someone regaring Status (the revenue term for deciding whether you are employed / self employed.) Each office / area has a Status Inspector, and the final decision on your status rests with them.
If I can help further shout!
#5
Track Day Organiser
It looks as though my compnay will be going ahead with making people go self employed now
From what I've read so far is that if you're continuously employed this way for more than 35 weeks, then the company must take you on, which seems a bit bizarre to me!!
Also apparently, by doing this, they will save to company £500,000 a year. I've heard that it costs about £200 a week to keep a person on the books, so if that 50 people that will go S/E. it works out to £520,000PA.
I haven't got a clue whether this is true or not, but it looks like I may not have a choice!
What are the advantages of being Self Employed compared to being directly employed? I know I won't get holiday or sick pay so want to know as much as possible - fore warned is fore armed, Hopefully!!
From what I've read so far is that if you're continuously employed this way for more than 35 weeks, then the company must take you on, which seems a bit bizarre to me!!
Also apparently, by doing this, they will save to company £500,000 a year. I've heard that it costs about £200 a week to keep a person on the books, so if that 50 people that will go S/E. it works out to £520,000PA.
I haven't got a clue whether this is true or not, but it looks like I may not have a choice!
What are the advantages of being Self Employed compared to being directly employed? I know I won't get holiday or sick pay so want to know as much as possible - fore warned is fore armed, Hopefully!!
Its called avoiding Employers National Insurance !!!!!
If the facts are as you state Paul then your company are on very dodgy ground IMHO
I would discuss this with ACAS or someone else suitably qualified
Your company could be in serious problems
I have seen instances where the Revenue have declared "self employed" workers as employed and simply grossed up the payments made to the worker and charged the company that amount and then add a fine of a similar amount
TREAD CAREFULLY MY FRIEND
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