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Give the characteristics of Self-employment and salaried (paid) employment

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Employed (Paid Employment)
Characteristics
i. Under control of another person (employer)
ii. Supply your labor only
iii. Cannot sub-contract the work
iv. Mutuality of obligation to offer work and perform work
v. Do not supply equipment/materials for the job
vi. Receive fixed hourly/weekly/monthly wages
vii. Entitled to sick pay/holiday pay etc.
viii. Employer provides insurance cover
ix. Work set number of hours per week
x. Employer deducts tax from wages under PAYE

Self-employed
Characteristics
i. Own your own business
ii. Are exposed to financial risk
iii. Can subcontract the work
iv. No mutuality of obligation
v. Supply necessary equipment for the job
vi. Cost and agree a price for the job
vii. Not entitled to paid leave
viii. Provide your own insurance cover
ix. Control your own hours in fulfilling job
x. You are registered for Self-Assessment and are required to file your own returns

Titany answered the question on November 10, 2021 at 05:43

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Give the characteristics of Self-employment and salaried (paid) employment

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