The entanglement dynamics of spin-subbands states for an electron in a 2D isotropic Rashba quantum dot, with an applied magnetic field of arbitrary strength, is studied. We also explicitly include the confining (gate) effects as a two dimensional isotropic harmonic oscillator. The von Neumann entropy, as a measure of entanglement, is calculated as a function of time, by going to Fock-Darwin representation. Our results indicate that under specific conditions the entanglement between the spin states and the structural subbands undergoes periodic collapse-revivals'. Furthermore, it is shown that the period and amplitude of collapse-revivals' strongly depend upon the external magnetic field and the Rashba coupling. Our results, thereby, provide means of controlling the degree of entanglement through external agents.