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I am a director, should I be engaged on a service agreement or a consultancy agreement?

Generally speaking, if you are an executive director, your relationship with the company would be governed by a service agreement and your directorship would be linked to your role as an employee. 

If on the other hand, you are strictly a non-executive director, your relationship with the company should be governed by a non-executive director appointment letter.  It may also be possible for you to provide separate services to the company as a self-employed individual under a consultancy agreement.  Neither a non-executive director nor a genuinely self-employed consultant should be involved in the day to day running and operations of the company.

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