Hello, i am currently having a trial period at a new job (independant TVR specialists)
Today me and the owner had a chat with regards how i was doing, how he thought i was doing etc and he asked me if i would consider going self employed, he said he would write a contract guaranteeing me 40 hours a week, a notice period, and would take my hourly rate and up it to cover 4 weeks holiday so i would be getting holiday pay (sort of)
However i have no idea how being self employed would effect me? I have a mortgage now but not sure how it would change that?
Basically i need to know the Pros and Cons of being self employed.

Any help or advice would be greatly appreciated.

Thanks
Mark

 

so would you basically be contracting yourself out to him? you will have to sort out the tax yourself... ... i know its not helpful advice... but just getting things straight

 

well if you do it, make sure you get yourself insurance cover, as you wont get any sick pay etc if you dont go in to work. imagen if you brake your leg or something

 

Whats the reason why he has suggested you going self employed ??

 

The Revenue will not accept that you are self employed if you work as stated.

This is their definition:


Self-employed

If you can answer 'Yes' to all of the following questions, it will usually mean you are self-employed.

* Can you hire someone to do the work for you or engage helpers at your own expense?
* Do you risk your own money?
* Do you provide the main items of equipment you need to do your job, not just the small tools many employees provide for themselves?
* Do you agree to do a job for a fixed price regardless of how long the job may take?
* Can you decide what work to do, how and when to do the work and where to provide the services?
* Do you regularly work for a number of different people?
* Do you have to correct unsatisfactory work in your own time and at your own expense?



.

 

I think he wants me to be self employed so he doesn't have to pay so much tax.
I had not thought about sick pay though, good point.

 

focusv8
Well that's that then i could not answer yes to all of those, does that mean i would not be allowed to become self employed?
Thanks

 

M8 i am self employed and basically whats hes asking you do do you can not he wants to save on the NI contributions etc...
basically with out him you would have no work

I fit carpets etc and i can't work for just one company i have to prove (if asked) that i can find work elsewhere etc.....



tbh u could do it and he could get away with it but i'm sure his accountants would tell him its a no no

 

i'm self employed and the only way i could work for another company in my trade is if i "sub contracted" my self to that company wich you would have to pay your own N I contributions. the tax you might have to pay unless he gives you a tax voucher then the tax is already paid by him. to do this you would need a CIS card. the good thing for him is if he didnt want you to work for him he wouldnt have to sack you , the bad thing for you is no sick pay , holiday? and theres not work 100% guaranteed

 

It doesn't look good then
Oh well, thanks for everyones help