Am I self Employed Or Fixed Term Contractor

[DeludedAussie]

I have been working for the same bank through the same agency for the last three years

I am thinking of taking out a policy in case I get made redundant / not renewed.

I cannot work out if i am a fixed term contractor or self employed. I have twelve month contract and have been renewed a few times but i get paid through my own ltd

Am I self employed or fixed term contractor

Here is the policy wording

https://www.moneysupermarket.com/asu...y_Document.pdf

Contract worker - Working under a contract of
employment or a contractfor services
for a fixed period oftime.

Self-employed - Working alone orin association with
self-employment others,(whetherin a partnership or as a
member of a limited liability
partnership) being liable to pay Income
Tax andNational Insurance
contributions on the basis applicable to
the self-employed: or
Being an employee of a business or
Company in which you have a
shareholding of 25%ormore.

[malvolio]

I have been working for the same bank through the same agency for the last three years

I am thinking of taking out a policy in case I get made redundant / not renewed.

I cannot work out if i am a fixed term contractor or self employed. I have twelve month contract and have been renewed a few times but i get paid through my own ltd

Am I self employed or fixed term contractor

Here is the policy wording

https://www.moneysupermarket.com/asu...y_Document.pdf

Contract worker - Working under a contract of
employment or a contractfor services
for a fixed period oftime.

Self-employed - Working alone orin association with
self-employment others,(whetherin a partnership or as a
member of a limited liability
partnership) being liable to pay Income
Tax andNational Insurance
contributions on the basis applicable to
the self-employed: or
Being an employee of a business or
Company in which you have a
shareholding of 25%ormore.

You're neither. You are an officer of your company, your occupation is company director.

HTH

[BlasterBates]

You can claim up to 50% of your salary.

For a lot of contractors that´s not a lot.

[northernladuk]

If you are worried you will get made redundant I would say you are a permie. HMRC will probably agree.

[LisaContractorUmbrella]

If you are worried you will get made redundant I would say you are a permie. HMRC will probably agree.

Agreed. I wonder if the OP is working outside IR35??

[Andrew@Wisteria]

Agreed. I wonder if the OP is working outside IR35??

See decision in JLJ services

JLJ Services Ltd v Revenue & Customs [2011] UKFTT 766 (TC) (28 November 2011)

Para 58 is telling...."The situation altogether changes, however, certainly by the point in late 2003, when Allianz offered Mr. Spencer either employment, or indefinite engagement, and when in any event the parties moved to a pattern of annual renewals on a non-project basis. It seems perfectly evident to us that from that date onwards, Allianz regarded Mr. Spencer as someone who they wished to engage and retain indefinitely."

[Wanderer]

You're neither. You are an officer of your company, your occupation is company director.

Bzzzt. Wrong. Go back and read the original post.

Self-employed - Working alone or in association with self-employment others,(whether in a partnership or as a member of a limited liability partnership) being liable to pay Income Tax and National Insurance contributions on the basis applicable to the self-employed: or Being an employee of a business or Company in which you have a shareholding of 25% or more.

DeludedAussie, read that bit I underlined. Does that describe your business? If it does then for the purposes of the insurance proposal you are Self Employed.

[DeludedAussie]

Bzzzt. Wrong. Go back and read the original post.



DeludedAussie, read that bit I underlined. Does that describe your business? If it does then for the purposes of the insurance proposal you are Self Employed.

Yes it does - But if you read the fixed term contractor point then I qualify under that ground as well

[Wanderer]

Yes it does - But if you read the fixed term contractor point then I qualify under that ground as well

In this context, a contract worker is someone on a fixed term contract paid via PAYE. You are self employed because you have your own LTD company.