Contracts and Review
The 'Contract for Service' will define as a minimum the key areas listed below. They are all essential elements in the definition of your remuneration potential, the legal protection you have and/or must comply with and the risk you run during your contract. These risks may still apply after contract completion.
- Who the contract is between
- Type of contract
- Rates, remuneration and how this is calculated
- Payment terms
- Location of services
- Insurances required
- Reimbursable expenses
- Equipment to be provided
- HSE requirements and protective clothing
- Training and qualifications
- Defective performance and liabilities
- Termination
- Restrictive covenants
- Substance abuse
- Copyright and Intellectual Property Rights
- Concurrent contracts
- Substitution
- Governing law
To ensure you do not fall foul of tax legislation resulting in your full income being assessed as PAYE this needs to be cross checked against:-
- Current tax legislation
- Your trading models
- Your working practices during service provision
- Your insurance cover
We recommend this is done by professionals as the cost far outweighs the risk of non-compliance.