State of the Market

[eek]

I probably should be looking (I could do with some cash coming in) but to be honest I can't be arsed - I've more interesting things to play with that I should be able to monetise easily enough.

This is the thing about contracting as MF and others have pointed out in the past - there is no easier hassle free way to earn a decent amount of money.

[NorthWestPerm2Contr]

I probably should be looking but to be honest I can't be arsed - I've more interesting things to play with that I should be able to monetise easily enough.

Plan B is generating revenue for me, but it's still a long way off replacing gigs. Having said that, if I am on the bench I'll be generating more revenue in Plan B so it's not a bad thing to fall back on.

[CorBlimey]

without doubt this is the worst Jan i've seen in terms of contract roles since I started contracting in 2010. I'm in contract until March but the number of colleagues and friends looking is unprecedented - perhaps during the recession in 2008 it was similar.

Ditto and I have been going since 2000. 2008 was not as bad.


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[tsmith]

Rate

Just had a recruiter tell me role is offering £600 per day inside IR35 - which = £340 a day net.

Struggling to see how hes working that out. From the numbers Im putting in here its more like £340 a day - without taxes taken out - eg £340 gross?

340 x 225 = £76000

IR35 Calculator - How much will it cost you? - IT Contracting

Day rate of £600 - with "Annual salary if outside ir35" of guessing - circa £7000?

= £74,000 (Ir35)

[eek]

Just had a recruiter tell me role is offering £600 per day inside IR35 - which = £340 a day net.

Struggling to see how hes working that out. From the numbers Im putting in here its more like £340 a day - without taxes taken out - eg £340 gross?

340 x 225 = £76000

IR35 Calculator - How much will it cost you? - IT Contracting

Day rate of £600 - with "Annual salary if outside ir35" of guessing - circa £7000?

= £74,000 (Ir35)

From Umbrella Take Home Pay Calculator - Clarity Umbrella Ltd

£3000 a week
£1289.58 in tax
£25 umbrella fee
£1685.42 take home



so £338 a day once all the tax is paid.

[GhostofTarbera]

From Umbrella Take Home Pay Calculator - Clarity Umbrella Ltd

£3000 a week
£1289.58 in tax
£25 umbrella fee
£1685.42 take home



so £338 a day once all the tax is paid.

Then take out your expenses


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[GhostofTarbera]

Ditto and I have been going since 2000. 2008 was not as bad.


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2008 was the land of milk and honey, can’t remember anyone I know being out of work

Now it’s like 50% of contractors I know


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[CheeseSlice]

Is the old world bulletproof and wont produce technical issues?

I think the assumption of software systems wont fail is kinda naive in the modern day. It's as saying Cars don't breakdown, Trains won't fault etc...
I wouldn't say its embarrasing at all. Afterall, all things do fail at some point. It might look embarrasing from the business point of view but from a software development industry view point, it should be applauded. They're not afraid to fail and willing to showcase their failures out in public, and thus learning from their failues. All this is part of the whole DevOps philosophy.

The view that its embarrasing for your software system to fail is kind of a bit dated to be honest and it's still relatively common to see these views from old age enterprises.

What kind of Koolaid have you been drinking? Can I have some?

Yeah when Facebook goes down for 12 hours, everyone claps and cheers..
When the bank website goes down, or visa is broken and you can't get your money at the cash register.. we all clap.. "they must be so proud of themselves right now!"..

[Paralytic]

The carnage continues!


Lloyds follows HSBC in banning consultancies’ limited company contractors ahead of IR35 reform

Why is this a surprise to some? The banks use these consultancies the same way they use contractors via agencies, so they run the same risk that they'd have to produce a determination for the individuals. They're simply removing that risk.

But is sounds like even some consultancies can't differentiate their own contractors from their own employees. A quote from that article (my bolding):

“But all our staff will now be taxed as PAYE, yet not all will stay,” says one. “We might as well cancel the deal [with LBG] and shut our firm down, as in no way is it viable anymore.”

If they are staff, they should already be PAYE. If they are contractors, they are not staff.

[eek]

Why is this a surprise to some? The banks use these consultancies the same way they use contractors via agencies, so they run the same risk that they'd have to produce a determination for the individuals. They're simply removing that risk.

But is sounds like even some consultancies can't differentiate their own contractors from their own employees. A quote from that article (my bolding):

“But all our staff will now be taxed as PAYE, yet not all will stay,” says one. “We might as well cancel the deal [with LBG] and shut our firm down, as in no way is it viable anymore.”

If they are staff, they should already be PAYE. If they are contractors, they are not staff.

It's semantics - have you ever seen a consultancy roll up to the end client and admit that they are providing contractor resources because they don't have skilled permie staff.