salary or retainer, whch is better?

newmort

Is it better to be employed and get a salary or be self employed and get a retainer? Does anyone know how retainers are calculated, and how to know if it is a fair amount?

Savvy_Sue

it depends on the size of the salary compared to the size of the retainer and the amount earned through the self-employment.

Retainers are calculated by careful negotiation on both sides. what's fair would depend on what you were expected to provide, wouldn't it? For example, if I'm paying you a retainer to be available to my company 24/7 and to get to any problem within half an hour, I should be prepared to pay you more than if I only require you to be with me within normal office hours, and think it's reasonable for you not to turn up for 3 hours.

However, the question of whether you are employed or self employed isn't really for you to answer: HMRC decides.

SueC_2

That's a bit like asking whether and apple or a banana is better. It depends on a lot of things. Size, quality, which you like, what you fancy, specific needs/requirements you have etc etc.

newmort

Thanks for the reply, this is the 1st time, I have posted a thread, and I am thrilled that someone has actually been kind to reply to it.

Savvy_Sue

You're welcome ...