Hello people, I'm a first time contractor so forgive me if these are silly questions.
My situation is that I used to work for Company A as a permanent employee for about 1 year and 9 months. I joined Company B and have been with them for 1 year and 4 months.
Company A just made me an offer to rejoin them as a contractor. Company B has asked if they can make a counter-offer.
B pays me about £35,000 as a permanent employee. A is offering me £250/day as a contractor with an initial 6 month contract. Which is nearly double of what I'm making.
My questions are:
1) will I get caught by the dreaded IR35?
2) is there a way of getting out of it?
3) if I do get caught by it and pay exorbitant taxes, roughly how much take-home pay can I expect to make, so I can give Company B a number for a pay raise?
thank you!
My situation is that I used to work for Company A as a permanent employee for about 1 year and 9 months. I joined Company B and have been with them for 1 year and 4 months.
Company A just made me an offer to rejoin them as a contractor. Company B has asked if they can make a counter-offer.
B pays me about £35,000 as a permanent employee. A is offering me £250/day as a contractor with an initial 6 month contract. Which is nearly double of what I'm making.
My questions are:
1) will I get caught by the dreaded IR35?
2) is there a way of getting out of it?
3) if I do get caught by it and pay exorbitant taxes, roughly how much take-home pay can I expect to make, so I can give Company B a number for a pay raise?
thank you!
Comment