From today, Halifax are making some changes to their requirements for affordability and when verifying income for contractors on an employed basis. Where a customer’s income comes from a contract and they are not employed on a permanent basis they are classed as a contractor.
This will include individuals who are self-employed and pay their own tax, those who are employed via an umbrella company who deduct their tax and people who are essentially employed but on a fixed / short term contract e.g. 12 months.
Customers are classed by Halifax as self employed if they pay their own tax, OR have more than one contract, OR have set up a limited company and employs other contractors.