Employed or Self Employed??

[tim123]

If I'm filling in a 'financial form' I put down that I am a director, but if I am filling in something else I just put down self employed.

tim

[Alan @ BroomeAffinity]

The chances are if you put down "employed", you will need to provide payslips as proof of income; if you declare "self-employed" or "company director" you will need to provide accounts or an accountants' certificate, sometimes backed up with tax assessments. I have just spoken to a mortgage broker who told me that there is effectively no self-certified market any more so any lender will require the above proof of income. If you are employed some write to your employer for a reference - which, as director, you would need to sign yourself!!

The other problem you could experience is that lenders can understand "employed" and they can just about understand "self-employed" but they really don't get "contractor" or "freelancer".

[TheFaQQer]

I always put myself down as an employed managing director.

[ASB]

Depends on the rules of the institution you are applying to. Often they regard controlling directors as self employed.

[BA to the Stars]

If it is because you are applying for credit, then putting employed scores better in credit scoring models than self-employed

[Lewis]

Changed my mind. I think put Company Director and not employed. Found this which has some useful comments .. http://www.paypershop.com/phpBB2/i-a...oyee-t465.html

[Lewis]

Hi all,

When you're filling out (usually financial) application forms do you say that you're employed (by your own Ltd) or self employed? I know self-employed is a different legal entity to an Ltd, but when it's just you in the company would most banks etc. expect you to put self employed? So far I've been putting employed with my ltd as my employer but I'm not sure whether this is right or not...

Ta.

I think you are right to put employed as you are not registered as Self-Employed which as you say is completely different. However some might argue you are an "office holder" and not an employee. You could maybe put Company Director in brackets or just put that down on its own.

[Dow Jones]

Neither Empl Nor Self-Empl

Hi all,

When you're filling out (usually financial) application forms do you say that you're employed (by your own Ltd) or self employed? I know self-employed is a different legal entity to an Ltd, but when it's just you in the company would most banks etc. expect you to put self employed? So far I've been putting employed with my ltd as my employer but I'm not sure whether this is right or not...

Ta.

You are a Company Director if you have a Ltd Co.
Self-employed normally applies to sole traders.

[salazie]

Hi all,

When you're filling out (usually financial) application forms do you say that you're employed (by your own Ltd) or self employed? I know self-employed is a different legal entity to an Ltd, but when it's just you in the company would most banks etc. expect you to put self employed? So far I've been putting employed with my ltd as my employer but I'm not sure whether this is right or not...

Ta.