State of the Market

[oliverson]

Well, I didn't get too 'attached' to Tuesday's interview but still, end of play Friday and f**, all feedback. Never used to be like this.

[SchumiStars]

The house that I'm living in cost £x in 2010. I was working as a contractor for 3yrs at the same SC place. Outside with a ltd company.

Absolutely no way could I buy the same priced house now. Salary and income tax can now be verified very quickly. Mortgage applications are very strict and salaries have been reduced.

In general, sucessive governments have come along with more taxation and more legistrtion. Properrty market is on its arse like the contracting market.

Saying that howvever, there is money in new markets such as SM, Instagram, amazon. Perhaps it is just us old skool boys who are left to crew the fat whilst the young ones are clocking large? Who knows?

Either way, it's not getting any better for us lot!

[sadkingbilly]

I was working as a contractor for 3yrs at the same SC place. Outside with a ltd company.

In general, sucessive governments have come along with more taxation and more legistrtion. Properrty market is on its arse like the contracting market.

the cause of the legislation? - permitractors.

[jamesbrown]

the cause of the legislation? - permitractors.

If that were true, it would've been a very simple fix. In reality, it's as much about generic IT contractors doing short gigs here and there and acting like employed temps. Of course, it's much more complicated than either of these things.

[Protagoras]

the cause of the legislation? - permitractors.

a cause of the legislation? - remove consultancies' competition ...

[sadkingbilly]

a cause of the legislation? - remove consultancies' completion

remove completion??? wtf?

[Protagoras]

remove completion??? wtf?

I'm getting so fed up with 'auto-correct'! Now updated.

[SussexSeagull]

IR35 coming in was before my time but some contractors were a bit out there with their tax affairs. I suspect that was the main reason it came in.

[ShandyDrinker]

I think these are just excuses, or at least the next 'stages' of a calendar year when 'something' is out of the way.

Christmas, Easter, End of tax year, summer, budget, election... None of these events have offered immediate improvement in the world after their passing.

Perhaps they are just excuses. I never used to have issues over the summer/school holidays in July/August when people said it would be quiet. Or Christmas. Or any other of the supposed quiet periods.

However, over the last 12-18 months in particular, I've seen that hiring has fallen off a cliff and rates down significantly. When people you know that have previously got contracts relatively easily are now struggling, you know something is amiss. That's before we get to comments on this thread.

I've said it before and I'll say it again. This is much worse than the GFC. This is worse that the downturn that was predicted post Brexit. It's worse than the lull at the start of covid.

the cause of the legislation? - permitractors.

I completely agree with this. I never understood when you'd get into a place and meet a contractor who'd been there longer than most of the permies. Often permitractors who'd then say "what's IR35?"

a cause of the legislation? - remove consultancies' competition ...

The cynical among us do believe that this had an impact, with massive conflicts of interest at play.

[krytonsheep]

I never understood when you'd get into a place and meet a contractor who'd been there longer than most of the permies. Often permitractors who'd then say "what's IR35?"

What I saw was some kind of osmosis of permies to contractors. Permies start to see the odd contractor appearing in their company, find out there's more money to be made doing the same job, then if they're not risk averse will switch sides.

Over time there's so many contractors and contracts available, even risk averse permies start to switch sides in large numbers. In the tech industry it was also the best way to earn more without having to move to management. So it almost became a career progression. The employers would treat the contractors the same as permies, but had the benefit of being a lot easier to get rid of. No employment tribunals, sick days etc. What was happening was disguised employment hence HMRC stepping trying to clamp down on it.