State of the Market

[Peoplesoft bloke]

Would be good if everyone could do their bit by stating their opposition to Inside IR35 work when people ring up about it. It all helps and it's all feedback that goes back to clients.

I've had a few agents offering gigs I don't have the skills for at terrible rates and inside.

I always end the conversation "but in any case I wouldn't take an inside IR35 role".

[Destiny2]

£200/day INSIDE IR35 = £130/day TAKE HOME PAY , but Umbrellas pay at the end of the month , so that becomes £104/day!

[eek]

£200/day INSIDE IR35 = £130/day TAKE HOME PAY , but Umbrellas pay at the end of the month , so that becomes £104/day!

Why does being paid at the end of the month change anything?

£200 a day = £4000 a month - which is £2,688.93 in Clarity's calculator
£200 a day = £1000 a week - which is £664.49 in Clarity's calculator

Granted those figures don't exactly match but both are approximately £130 a day after tax from an assignment rate of £200 a day.

[Destiny2]

Why does being paid at the end of the month change anything?

£200 a day = £4000 a month - which is £2,688.93 in Clarity's calculator
£200 a day = £1000 a week - which is £664.49 in Clarity's calculator

Granted those figures don't exactly match but both are approximately £130 a day after tax from an assignment rate of £200 a day.

I can't remember which IR35 calculator site I used but it provided both sets of figures.
Anyhow, contractorcalculator shows net monthly income as £2292. £2292 / 22 days a month = £104/day.

[eek]

I can't remember which IR35 calculator site I used but it provided both sets of figures.
Anyhow, contractorcalculator shows net monthly income as £2292. £2292 / 22 days a month = £104/day.

Assumptions make an ass of u and me and both you and that calculator are making assumptions that are working against you - the calculator is working on an 20 day month with holiday pay separated whilst you have added 2 more days into the month.

Which is why when I use a calculator I will always refer to the Clarity one as it allows me to put a gross rather than daily figure in as it doesn't make any assumptions - you can clearly see what is actually happening.

[Destiny2]

Assumptions make an ass of u and me and both you and that calculator are making assumptions that are working against you - the calculator is working on an 20 day month with holiday pay separated whilst you have added 2 more days into the month.

Which is why when I use a calculator I will always refer to the Clarity one as it allows me to put a gross rather than daily figure in as it doesn't make any assumptions - you can clearly see what is actually happening.

Thank you Sir. So, Inside IR35 = 35% loss ( Funny how the 35's match )

[Destiny2]

Would be good if everyone could do their bit by stating their opposition to Inside IR35 work when people ring up about it. It all helps and it's all feedback that goes back to clients.

I seem to be in a pickle. I bought two properties, had a newborn and also preparing for a divorce. Money is pretty tight for me and I will jump at any contract, inside or outside. Were I in a better financial position, I would have stood my ground too.

[eek]

I seem to be in a pickle. I bought two properties, had a newborn and also preparing for a divorce. Money is pretty tight for me and I will jump at any contract, inside or outside. Were I in a better financial position, I would have stood my ground too.

Given that you are looking at £200 a day contracts I suspect the work is also more likely to be more inside rather than outside as well.

£200 a day -> £1000 a week = £665 take home (65%)
£300 a day -> £1500 a week = £927 take home (62%)
£400 a day -> £2000 a week = £1181 take home (59%)

But the worst position to be in is needing money now - thankfully I'm not in that boat...

[GigiBronz]

I seem to be in a pickle. I bought two properties, had a newborn and also preparing for a divorce. Money is pretty tight for me and I will jump at any contract, inside or outside. Were I in a better financial position, I would have stood my ground too.

Why would you even bother? You’ll give most of what you have to your spouse. Sell what you have and gamble it then go on benefits.
Unless you have kids, your spouse should learn to manage on your own.

if you get a 400pd you’d have to give half of net to your spouse anyway before paying bills so bankruptcy is on the horizon anyway...
You are just postponing the moment and setting your spouse to a comfortable life that she would get used to and demand more of it. Not because she is morally entitled to but because the laws are made in this way.

[SussexSeagull]

Even seems to be picking up for us Manual Testers. Had a short term thing this week and the same consultancy now want me for a long termer contract. Outside IR35 if not exactly top rate.