A friend has been offered a job. The employer is an LLP.
He has been offered a package based on him being a Member entitled to a fixed profit share of the profits.
It seems this has been set up to save tax. He will be saving 3% NIC. And will "technically be self employed so can deduct expenses" - the employers words.
Is this the new wheeze? There's nothing wrong with a genuine partnership arrangement whereby a junior partner is a paid a fixed income. But my friend isn't self employed. Is this just a new way of getting around the employment status issue. Are all workers of an LLP now members??? Don't they have ordinary employees?