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Employed or self employed - what's right for you?

21 May 2016

The complexities of taxation law are such that it can be very difficult sometimes to decide whether or not one is employed or self-employed.

The implications can be expensive both for the employer and the employee if subsequently it is found that the position was not as first thought, so it is important to examine all the factors carefully at the start to assess the position. 

It is for you to consider also whether you wish to claim to be self-employed; while there are certain savings arising out of being self-employed, such as lower National Insurance costs and greater tax deductibility of expenses, these have to be weighed against the loss of social security benefits, and the rights that individuals have as employees.

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The information in this guidance is intended for general information purposes only and does not constitute legal or professional advice. The IoD does not accept any responsibility for any loss which may arise from relying on information contained in this article. It is not a substitute for legal advice and specific and personal legal advice should be taken on any individual matter. IoD does not recommend any firms. The IoD is not accountable for the products, services, acts or omissions on the website(s) linked to this page. Website terms and conditions apply.

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