• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • FREE workshop: Preparing contractors for Autumn : Weds 29th Sep at 7.15pm. More details here.

State of the Market

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Originally posted by eek View Post
    Except for the NI (which the employer is paying anyway) it's what an employee pays in tax.

    And if you don't like it work less, take more holidays and throw more into a pension.
    Add in VAT and uneven income and you’re paying much more tax than an employee.

    Include the agents rate and you take home around 30%. The parasites get 70%.
    It’s not great.

    Sorry, I’m painting too rosy a picture here. After losing 70% of your income you find that the deficit was 20% of gdp this year and you’re on the hook for that too. You still have 10% left for your living expenses, accountancy fees etc.

    Comment


      Originally posted by hugebrain View Post
      Add in VAT and uneven income and you’re paying much more tax than an employee.

      Include the agents rate and you take home around 30%. The parasites get 70%.
      It’s not great.

      Sorry, I’m painting too rosy a picture here. After losing 70% of your income you find that the deficit was 20% of gdp this year and you’re on the hook for that too. You still have 10% left for your living expenses, accountancy fees etc.
      Don't be daft. VAT should be ignored. Like the rest of your post. And your other posts.

      Comment


        Originally posted by hugebrain View Post
        Add in VAT and uneven income and you’re paying much more tax than an employee.

        Include the agents rate and you take home around 30%. The parasites get 70%.
        It’s not great.

        Sorry, I’m painting too rosy a picture here. After losing 70% of your income you find that the deficit was 20% of gdp this year and you’re on the hook for that too. You still have 10% left for your living expenses, accountancy fees etc.
        What's an agent? I don't use them as I now have sales staff.

        At which point you discover that an agent is a completely risk free bargain compared to paying for your own sales team..
        merely at clientco for the entertainment

        Comment


          Originally posted by hugebrain View Post
          Add in VAT and uneven income and you’re paying much more tax than an employee.

          Include the agents rate and you take home around 30%. The parasites get 70%.
          It’s not great.

          Sorry, I’m painting too rosy a picture here. After losing 70% of your income you find that the deficit was 20% of gdp this year and you’re on the hook for that too. You still have 10% left for your living expenses, accountancy fees etc.
          And people who have to commute and stay over each week, end up with less than min wage


          Sent from my iPhone using Contractor UK Forum

          Comment


            Originally posted by GhostofTarbera View Post
            And people who have to commute and stay over each week, end up with less than min wage
            Can be even worse than that. One of the Banks I was working for a few years back fired all the contractors and then tried to get them back a year later at half the previous rate. As I pointed out to the several agencies that called, after travel costs and hotel expenses I'd essentially be working for free on the new rate! No wonder we are seeing so many contractors taking local jobs at £50-60k. Can't say I blame them one bit.

            Originally posted by rocktronAMP View Post
            Does investment banking IT have a future at those daily [£650/day] contract rates?
            Is the talent going to flee already?
            I forgot to ask: Where is this talent going to "flee" to in order to escape the abject poverty of £650/day?
            nomadd liked this post

            Comment


              Originally posted by nomadd View Post

              I forgot to ask: Where is this talent going to "flee" to in order to escape the abject poverty of £650/day?
              Public sector is the obvious place. All that money has to go somewhere right?

              Comment


                Originally posted by eek View Post
                Except for the NI (which the employer is paying anyway) it's what an employee pays in tax.

                And if you don't like it work less, take more holidays and throw more into a pension.
                Yes that's true but i believe very strongly employees should be given a method to defer tax and do some basic tax planning. Pensions are not enough, there needs to be something shorter term available to them as well. It's crazy when people try and level the playing field by pushing down those that are doing well instead of elevating those at the bottom rung.

                Comment


                  I pitched for a role @ 600pd, was offered 400.

                  Outside ir35 and remote, 4 months, new tech I like, should I take it?

                  Comment


                    Originally posted by founder View Post
                    I pitched for a role @ 600pd, was offered 400.

                    Outside ir35 and remote, 4 months, new tech I like, should I take it?
                    I thought you had plenty of freelance work

                    Originally posted by founder View Post
                    atm my hour rate is 100% of day rate, was 60% for a while, but im gonna bump this soon
                    And if that is true why would you take this contract when you could be making £600 an hour.
                    merely at clientco for the entertainment

                    Comment


                      Originally posted by founder View Post
                      I pitched for a role @ 600pd, was offered 400.

                      Outside ir35 and remote, 4 months, new tech I like, should I take it?
                      No.
                      'CUK forum personality of 2011 - Winner - Yes really!!!!

                      Comment

                      Working...
                      X