State of the Market

[hugebrain]

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.

[Old Greg]

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.

[eek]

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..

[GhostofTarbera]

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


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[nomadd]

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.

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?

[hugebrain]

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?

[jayn200]

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.

[founder]

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

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

[eek]

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

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.

[northernladuk]

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

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

No.