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Ltd company & self employment
Lumpy_bd
Posts: 12 Forumite
Hi All,
An opportunity has arisen for me to join forces with an ex-colleague as an equal partner in an existing company. This company is profitable and stable so it's a really good opportunity.
I will be an equal shareholder, but it is a VAT registered limited company, not a sole trader or partnership.
Now my question is this; I will be paid a normal salary, with NI contributions and PAYE etc. so even though technically there are just the 2 of us, would I be considered as self-employed from the perspective of a mortgage company when it comes to re-mortgaging in January?
An opportunity has arisen for me to join forces with an ex-colleague as an equal partner in an existing company. This company is profitable and stable so it's a really good opportunity.
I will be an equal shareholder, but it is a VAT registered limited company, not a sole trader or partnership.
Now my question is this; I will be paid a normal salary, with NI contributions and PAYE etc. so even though technically there are just the 2 of us, would I be considered as self-employed from the perspective of a mortgage company when it comes to re-mortgaging in January?
0
Comments
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Depends how big your stake is.
If over 25%, most lenders will class you as self employed.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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