green light of the AdE for financial advisors


Flat-rate scheme and mixed contract: free access for financial consultants who operate with the dual modality, self-employment and subordinate employment. To establish it is the Inland Revenue which, with the answer to the number 484 of 2019, also specifies the conditions that trigger the impediment.

Flat-rate scheme and mixed contract: free access for i financial consultants operating with this particular type of contract, established by a union agreement signed on 1 February 2017, which provides for a parallel relationship of subordinate work, part-time permanent, and one of self-employment with the same employer.

The Inland Revenue establishes this with the answer to interpellation number 484 of 13 November 2019.

To provide the starting point for addressing the issue is not a financial consultant, but the company for which the professional should operate. Since he holds the role of substitute of tax, and is required to apply the provisions regarding withholding taxes on the remuneration paid for the activity, he turns to the financial administration to verify that the mixed contract does not trigger the impediment due to the activity mainly carried out towards the employer.

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Revenue Agency – Reply to Interpellation No. 484 of 13 November 2019
Request for ruling presented pursuant to Article 11, paragraph 1, lett. a), L. July 27, 2000, n. 212 – Flat-rate regime referred to in Article 1, paragraphs 54 to 89, of the Law of 23 December 2014, n. 190, as amended by article 1, paragraph 9, of the 2019 budget law.

Flat-rate scheme and mixed contract: the go-ahead by the Revenue Agency for financial consultants

Doubt arises from the characteristics of mixed contract, envisaged in the context of financial consultancy, which provides for simultaneous activation with the same person two different relationships:

  • part-time subordinate employment for an indefinite period, to which the national collective bargaining agreement of the Credit is applied and the ordinary discipline of the employment relationship, both for the normative aspects and for the retribution ones;
  • self-employment promotion, placement of financial products and investment services, for which registration with the Financial Consultants Register is required. The contract provides for a system of remuneration of a commission type on the basis of the concluded business and is subject to the certification procedure for employment contracts, in line with the provisions of Legislative Decree no. 276/2003.

The 2019 Budget Law introduced new rules for access to reduced taxation, one of these is included in the new letter d-bis), paragraph 57, article 1 of law n. 190/2014, which excludes from the possibility of applying the15% substitute tax “Natural persons whose activity is exercised predominantly with employers with whom work relations are in progress or work relationships had taken place in the two previous tax periods, or with subjects directly or indirectly attributable to the aforementioned employers, with the exception of those who start a new business after having completed the compulsory period of practice for the purpose of performing arts or professions ".

In light of the particular characteristics of mixed contracts, the employment relationships undertaken after the entry into force of the new text of the law enter contrary to the access rules? This is the question of the consulting company.

With the answer to interpellation number 484 of 13 November 2019, the Inland Revenue grants its own go ahead:

"With reference to the case represented in the application for the c.d. mixed contracts entered into by the Company following the entry into force of the regulatory amendment – taking into account, however, that this type of contract was established by a union agreement signed on 1 February 2017 (and therefore prior to the entry into force of the new text of the standard in analysis) – it is considered that, where there is no pre-existing employee employment relationship and the use of the so-called mixed contract does not involve artificial transformations of dependent work into self-employment, the impediment cannot be applied ”.

Financial consultants with mixed contract, free access to the flat-rate scheme: the rules to be respected

The financial administration clarifies that there is no obstacle between the mixed contract of financial advisers and the flat rate scheme. But, in arguing his position, he points out that there are cases in which he could take the hostile cause:

  • the dual employment relationship (independent and dependent) is subject to substantial changes, over the course of its duration, aimed at translating a portion of income received from the type of work income dependent on that of income from self-employment. The exit from the flat-rate regime would take place in the tax period following the one in which the transformation occurs;
  • the activity of self-employment in the facts is an activity that is actually traceable, for tax purposes, to an employment relationship from which to portray employee income, or similar to that of dependent work.

With the answer to interpellation number 484 of 2019, once again under the magnifying glass there are the rules for access to reduced taxation.

The 2019 Budget law has modified the plant at the base of the flat rate regime, generating a series of doubts, that the Revenue Agency, even after almost a year, is called to dissolve. At the gates is the 2020 maneuver with a new baggage of novelties and questions for tax payers.

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