Locum vet nurse - Becoming a limited company

RE: Locum vet nurse - Becoming a limited company

r-more — Thu, 28 Apr 2016 18:59:02 GMT

For tax purposes, wether a person is employed or self employed is not a matter of choice or a matter of contract. The tax authorities will be interested in the nature and form of your working relationship, just because you have an agreement with the practice that you are self employed and will invoice the practice doesn't actually mean you are truly self employed.

I general, being self employed is more tax efficient for the worker and the "employer", but HMRC don't want this to be abused. To be truly self employed there are certain criteria that have to be met: is the work done according to you terms, do you use your own equipment, can you choose when to work/turn work down, can you set your own hours, is it done on a regular basis etc? If the practicality of the working relationship is actually very similar to what an employee is doing, then HMRC may not consider it true self employment. This can affect what deductions you may be able to make for tax purposes and the employer will be required to pay employer's NI and pay up any short fall in PAYE tax.

The reson you can't get a clear answer from an accountant, is because each period of engagement with a practice may be of a different nature - sometimes you could be genuinely self employed, other times not.

RE: Locum vet nurse - Becoming a limited company

jennyvetnurse92 — Tue, 26 Apr 2016 22:55:09 GMT

[quote user="colette fitzpatrick"]

So I've looked into becoming self employed ( can't do as vns apparently as we do not meet the criteria ) [/quote]

Sorry to drop in on this but what do you mean? What criteria don't we meet?

RE: Locum vet nurse - Becoming a limited company

bunnyshouse — Sat, 23 Apr 2016 22:28:31 GMT

They paid me as an employee but at locum rates. Gave up with umbrella companies. The other options appeared to take a lot of time and effort for too little reward.

RE: Locum vet nurse - Becoming a limited company

colette fitzpatrick — Sat, 23 Apr 2016 19:24:26 GMT

Thanks for your reply , but what do you mean ? You still stayed as a locum but got paid as employee ??

RE: Locum vet nurse - Becoming a limited company

bunnyshouse — Sat, 23 Apr 2016 18:40:43 GMT

I found most practices where happy to do PAYE i found it worked out better than umbrella companies.