Employed/Self Employed/Consultant or Director?

[SurfSpirit]

Hello, I wonder if you could please advise:

I am currently working full time for a local engineering company in a very varied role - anything from hands on machine maintenance to advising on Management / Health & Safety isssues / Plant Procurement etc etc.
I have been working for the company in this capacity for just over 12 months and have been invoicing them on a weekly basis for the hours I have worked which is usually around 40hrs p/w
My intention was to declare my earnings through the self assessment tax system.
However the company I am working for have been advised by their accountants that I cannot do this as they are my only client, and I would be seen as an employee rather than a type of sub-contractor from a tax position.
The company are pretty open minded about how things are structured. They are prepared to employ me directly or look at any alternatives.
I wondered if I could be self emploted as a consultant or possibly even as a Director (if I were to buy a token shareholding if the company were willing)? and if this could work out better from a tax perspective?
To make things slightly more complicated I am the Landlord of part of the property that the company operates from.
Because of my Rental income (of which I pay tax on through the self assessment system – Land & Property) I rapidly become a high rate tax payer on anything else I currently earn.
Any advice you could offer in this matter would be much appreciated.
Thank you for your interest.
Yours sincerely,
Peter

[mullet]

I wondered if I could be self emploted as a consultant or possibly even as a Director (if I were to buy a token shareholding if the company were willing)? and if this could work out better from a tax perspective?

You cannot choose your employment status to suit yourself. "Consultant" means all manner of things, and it is not a magic word which makes someone self employed. A "self employed director" is almost always an oxymoron. A director is an office holder, and a director must almost always be paid as an employee (i.e. PAYE income tax and NICs). There are very few exceptions, and on the basis of the information provided I would agree with the company's accountant that you should be treated as an employee. Indicators - hourly pay, full-time work, no other clients, no obvious financial risk, no mention of own tools/equipment being used, part & parcel of the organisation, possible mutuality of obligation, no mention of provision of a substitute worker being possible or having happened.

[SurfSpirit]

Hello Mullet and thanks for your swift response.
Rather than "choosing" my status I was merely enquiring about how my position could be viewed as it was and still is unclear to me.

In response to your observations about my use of tools etc as I obviously couldn`t make my initial post completely detailed in every respect:
Yes I do use my own tools which are extensive, expensive and require replacement and updating frequently. I also use my own computer both on and off site which is connected to the internet - the service which is paid for myself.I provide my own mobile phone. I work independantly from anyone else in the company in a unique role, often working alone as and when required.I provide my own vehicle which is often but not always used for company tasks. Other premises I occupy are often used for this (employment?) depending on what I am working on.
I provide liability insurance for this (employment?)
I am unaware of any other "employee" within the organisation providing such equipment or services.
I am unsure of the relevence of a substitute worker? I have operated as a sole trader, partner and Director in my prior work history.
Yours sincerely,
Peter