Take home pay from £300/day?

[BrilloPad]

There should be more to it than money. Not having to go through the permie rigmarole is worth alot to me.

[northernladuk]

300 is a little on the low side isn't it? Where is it and exactly what role are you carrying out? If it's a fairly basic role then there is going to be a lot of competition for them as well. Particularly if most of the applicants are our offshore friends.

[PurpleGorilla]

FWIW I left just under £60k for £55 and hour.

But since I did this contracting has been squeezed by hmrc so you need to make more for the scales to balance up.

FWIW I would stick with £40k a year, and only investigate contracting when you can make >£450 a day.

[northernladyuk]

FWIW I left just under £60k for £55 and hour.

But since I did this contracting has been squeezed by hmrc so you need to make more for the scales to balance up.

FWIW I would stick with £40k a year, and only investigate contracting when you can make >£450 a day.

£40k you take home £30.5k. You don't have to work many outside IR35 days at £400 to pass that.

[l35kee]

£40k you take home £30.5k. You don't have to work many outside IR35 days at £400 to pass that.

less than 5 months. Doesn't include the various ltd fees, but still. That's some perspective.

[PurpleGorilla]

Take home pay from £300/day?

£40k you take home £30.5k. You don't have to work many outside IR35 days at £400 to pass that.

Yeah but OP talking about £300 a day.

The calc above estimates £4k take home a month on that. (72%) or £48k p/a.

You make an extra £17k but have loads more risk, must bill the days, no pension etc.

Having had 8weeks on the bench last year I am a bit more circumspect about it all...

[northernladyuk]

Yeah but OP talking about £300 a day.

The calc above estimates £4k take home a month on that. (72%) or £48k p/a.

You make an extra £17k but have loads more risk, must bill the days, no pension etc.

Having had 8weeks on the bench last year I am a bit more circumspect about it all...

But you were talking about 450 pd!

£400 pd works, but agree that £300 pd vs £40k pa is close.

[PurpleGorilla]

But you were talking about 450 pd!

£400 pd works, but agree that £300 pd vs £40k pa is close.

I know I did, I was suggesting to stick to permie until you can break into £450 a day.

[northernladyuk]

I know I did, I was suggesting to stick to permie until you can break into £450 a day.

But £400 pd would work nicely compared to 40k p.a.

[PurpleGorilla]

But £400 pd would work nicely compared to 40k p.a.

You make an extra £17k take home. (See above)

But no pension and bigger risk.