Agency Contracts inside IR35

[jmo21]

The point you need to bear in mind is that the higher rate you'll get as a contractor compared to a permie needs to be considered in light of the fact that you'll most likely spend indeterminate chunks of time on the bench with zero income. Not to mention that there isn't an employer paying you when you're on holiday, paying your NI, contributing to your pension etc etc. You need to factor in these considerations too.

This.

£500/day contract? Want 2 weeks in the sun on holiday? That's £5000 you won't be billing plus the cost of the holiday. 2 days sick during the contract? That's another £1000 down the pan (the regulars will say of course real contractors don't take days off sick!)

Car in the garage 1 day and can't get to the office, kid sick and needs to be looked after another day? That's another £1000 down.

Extension falls through at last minute and you are out the door on Friday? Takes a week to even get an agent to respond to your CV? Another week while waiting for an interview to get sorted out, another few days and you've been offered and signed a contract, and another week til you start, before you know it, 4 weeks are gone and that's £10,000 not billed. And what if that falls through at last minute?

It all adds up, and of course, you might be lucky and finish one contract on a Friday and have another lined up for the Monday and this all sounds like a scare story, but these are some of things you need to think about rather than saying "£500/day is way more than I earn as a permie"

[DirtyDog]

I've got some reading to do!!!!!!!

Cheers guys. I imagine contract wannabes are a pain in the backs side! Apologies.

Wannabes that show no interest in finding out what it's really about are a pain the backside. If you have looked into it all, then welcome!

There a few things more frustrating than to read a series of posts in a few months about how it's nothing like you expected, because things have gone pear-shaped. There are lots of contractors who became contractors because they were made redundant, saw the pound signs, and thought that this was the easy way to make lots of money.

Best of luck with it all.

[SteelyDan]

£500/day contract? Want 2 weeks in the sun on holiday? That's £5000 you won't be billing plus the cost of the holiday.

This kills me every year...and don't talk to me about Bank Hols!