Contractor through LTD rental application: self employed?

[TheCyclingProgrammer]

Not having an accredited accountant sign off your books might cause you problems...perhaps one of the resident mortgage advisers on here can confirm this, but I'm sure most lenders, if lending based on your accounts, will want a signed declaration from your accountant (who needs to be accredited).

I don't think you ought to be involving your client in this - its got nothing to do with them.

[MonXX]

Thanks for the replies, confirms my ideas.

HSBC have a rule that if you are director of a Ltd that you own more than 25% of, you process any financial applications as self employed with your income being your %age share of the company profits + salary.

I misread at first, so just to double check: you indeed mean HSBC, not HMRC?

Tomorrow I will talk with the estate agent again when they're open to work this out. Another point that came up is that they want to have a financial referee, for which relevant options could be current employer (me), accountant (me, I am currently doing my own accounts, looking for a new one), or self-employed (with the note 'SA301/SA100'; as you confirmed I would say this is not applicable to me). As I imagine they don't want myself as referee, the only other option would be the company I am currently contracting for. I'd reckon they would agree to it, but I feel hesitant to list them as my employer. Though I doubt they would forward this to HMRC, would anybody foresee this as a possible issue? There is also the 'Benefit/Other' option, but I just want to go through this without raising unnecessary flags and ending up not getting to rent this property, without being dodgy. Thanks for the input again!

[TheCyclingProgrammer]

HSBC have a rule that if you are director of a Ltd that you own more than 25% of, you process any financial applications as self employed with your income being your %age share of the company profits + salary.

I think most banks/lenders will treat you as "self-employed" if you own more than 25% of a company you're director of. Different lenders will have different criteria for assessing your income though (some will use company profit).

As a general rule, if I'm dealing with tax or business matters, then I'm a company director and definitely not self-employed. For things like insurance and the like, I normally choose "Employed" but have probably put self-employed in the past too.

[blacjac]

HSBC have a rule that if you are director of a Ltd that you own more than 25% of, you process any financial applications as self employed with your income being your %age share of the company profits + salary.

[SueEllen]

For idiots i.e. estate agents, some banks I choose self-employed.

[Clare@InTouch]

You're an employee of a company you just happen to own. Self employed would indeed refer to sole traders.

The term is commonly used by agents and even contractors to refer to themselves though, as they are working for themselves. Sort of

From a tax use of the phrase though, definitely not.

[MonXX]

Hi All, I work as a contractor through my own limited company. Currently I am looking to rent a house and going through the estate agent, paper work and looking online I am confused now about something I thought I knew: am I considered 'self-employed'? My understanding was that that indicates a sole trader, not the director of a ltd company. But after explaining my situation to the estate agent their response was 'so, you're self-employed?', and now I am filling out the rental application form I have to select 'employed', 'self-employed', 'on-contract'.

Doing a search around, there are many websites that discuss 'should I go limited company *or* self employed', however reading for instance the following:

Independent contractors

seems to indicate contractors with their own limited company can also be termed self-employed. So what would you fill in, and while I'm at it: what am I from the viewpoint of the hmrc?