salary vs contracting rate comparison

[RichardCranium]

£134,251.

Plan B: www.malvolio-calc.com

£1 per conversion.

[BolshieBastard]

I mean who gives a **** what the 'conversion' for contract rate to permie and vice versa is!?

You either want to go contracting and have some independence or you want to be a permie drone.

Salary, benefits etc against rate counts for tulip. Get your mind sorted what you want to do. Dont do one because it pays more money. You'll never be fulfilled that way.

[ChimpMaster]

Plan B: www.malvolio-calc.com

£1 per conversion.

Ahem: http://calculator.contractoruk.com/

[RichardCranium]

Ahem: http://calculator.contractoruk.com/

Yes, sir, but that is your basic free service. It is alright in it's own way, but it is not a premium service. Clearly Sir would enjoy a service where the customer is valued, a special service for the special contractor. We here at www.malvolio-calc.com don't give you an instant, impersonal, computer generated response, oh no. With www.malvolio-calc.com Sir will receive personal attention. Our specialist advisor will provide you with your own results. For a special offer price of just £1 (plus VAT). If Sir would just care to state his daily rate and <smiles sweetly and holds hand out> will Sir need change?

[expat]

Contracting: benched so rate = £0.
Permie: outsourced and redundant so rate = £0.

Sorted.


Damn damn damn, I wasn't going to be negative today

[MPwannadecentincome]

It won't work if you use an umbrella, but then you'll be paying rather more tax than a permie anyway so more fool you.

Excuse me can you explain this - how would a brolly employee pay more tax - there are expenses an employee could not offset e.g. commuting (subject to 2 year rule) and subsistence.

I mean who gives a **** what the 'conversion' for contract rate to permie and vice versa is!?

You either want to go contracting and have some independence or you want to be a permie drone.

Salary, benefits etc against rate counts for tulip. Get your mind sorted what you want to do. Dont do one because it pays more money. You'll never be fulfilled that way.

Sorry this is bollocks - some of us were not given the choice, I was made redundant and no permie jobs going - either I took a contract or starved.

[MPwannadecentincome]

do you like my new sig

You might have to change it to 1200, 1500 or even 1700 - take your pick - or you could run a poll

[stuart_75]

Id like your opinions on my current situation.

I'm currently permie on 38k. I work for a company that imports cheapo teleoms labour from India on skilled work visas. I'm basically treated like a contractor on permie money (ie zero benefits, no car, no sick pay, only 20 days holiday, nothing else)

Ive just been offered a "proper" contracting role on £250 day with a vehicle and fuel card for all business related miles.

Seems like a no brainer to me, so is there any reason I shouldnt take it? Or would I be better off using my own car/van for the role?

Cheers

Stuart.

[KevinS]

I'd bin the car/fuel card as that is for employees and push the rate up to compensate for using my own vehicle..

[malvolio]

Excuse me can you explain this - how would a brolly employee pay more tax - there are expenses an employee could not offset e.g. commuting (subject to 2 year rule) and subsistence.

Expenses aren't income. Don't fool yourself that they are. Subsistence is only applicable if you are working more than 10 hours a day away from home, so also not income. Plus you can't claim money you haven't spent and don't let anyone tell you differently (and watch the news, HMRC are about to land heavily on umbrellas with "interesting " expenses policies)

However as an umbrella user you are funding employers and employees NICs as well as all your own costs out of your gross income and paying fees to a third party to do the (largely trivial) paperwork for you. Employees only have to pay employees NICs and are not liable for expenses or employers NICs (nor holidays, sickpay or training come to that) and tend not to be charged by their empoyers for letting them work there.

End result is you might earn more net pay, but you are actually retaining far less of your gross than any other option. Sad, isn't it...