Contractor..??

[Squawk 2650]

Hey everyone,

I have been offered a flying job full time but I’ll be contracted for the first 12 months. Its just aerial work. I suppose technically I will be self employed, although flying for this company, is there anything I need to look out for?? Do I need to cover my self in anyway???

Any info would be great.

Tried a search but nothing found ...

Thanks in advance

S

[wobblyprop]

who's covering the insurance?

[Squawk 2650]

The aircraft is insured for anyone associated with company business! Checked that one! Any other things that I might have missed??

S

[Tallbloke]

You may fing the revenue are interested in your self employed status. I ahve been self employed for many years but recently things have changed. The revenue want to see a person declared as self employed to be taking a risk when taking on work. In my line of work this means quoting I must have my own public liability insurance. I cannot price jobs at a daily rate anymore, I have to quote for individual jobs in their entirety, including required acommodation and transport. Where you have to be particularly careful is when you work for a single employer. I must be able to show the revenue that I have multiple clients, and that I am not entirely dependent on one employer for my income. This is because employers were using self employed people to avoid things like employers NI contributions. You will also need to sort yourself out to pay Class 4 NI as well as Class 2 (fairly straightforward, write off and pay by direct debit). I would recommend getting an accountant as well. Whilst you can chose to do the books yourself, an accountant knows what the revenue wants to see and what you can get away with regarding allowances.

Being self employed is not the crock of gold at the end of the rainbow it used to be.