Barclays forcing all contractors to go PAYE by February 2020

[fullyautomatix]

I'm at HSBC and been told all contractors who are to be extended will be on PAYE from January with no rate increases. Seems a lot of confusion and conflicting information at the moment.

No confusion really. Decision was made to not engage any resource operating via ltd company from end of feb. This policy extends to external vendors like Sapient etc as well.

[cosmic]

I'm at HSBC and been told all contractors who are to be extended will be on PAYE from January with no rate increases. Seems a lot of confusion and conflicting information at the moment.

No confusion just means all contracts will be inside ir35 and no increase in daily rate by what you stated.

[TheInvoicer]

No confusion just means all contracts will be inside ir35 and no increase in daily rate by what you stated.

The confusion is the ever changing decision, is what they mean I would guess. No LTD contractors past sept, now it’s jan. Go perm or leave now it’s go perm, leave or umbrella. Wrapped up in tulipty/lack of communication.


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[Paralytic]

No confusion just means all contracts will be inside ir35 and no increase in daily rate by what you stated.

You're the one that is confused here. There will be no Inside IR35 contracts because Barclays are no longer going to engage with PSCs (excluding any small number of exemptions that might be worked out for specific roles).

[fullyautomatix]

You're the one that is confused here. There will be no Inside IR35 contracts because Barclays are no longer going to engage with PSCs (excluding any small number of exemptions that might be worked out for specific roles).

I think its HSBC that is causing confusion for the OP

[Signo_cypher]

The confusion is the ever changing decision, is what they mean I would guess. No LTD contractors past sept, now it’s jan. Go perm or leave now it’s go perm, leave or umbrella. Wrapped up in tulipty/lack of communication.


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I think most people will stay put in the role they have (lack of war chest), there really is nowhere else to go. Within financial services the die is cast, pretty much all clients are placing contractors inside and as we know the market in general is utterly terrible, there is a genuine lack of roles out there and its not going to get any better in the next 6 months - as someone said before if you have a role sit tight and wait it out, or sit at home and wait it out

[GhostofTarbera]

I think most people will stay put in the role they have (lack of war chest), there really is nowhere else to go. Within financial services the die is cast, pretty much all clients are placing contractors inside and as we know the market in general is utterly terrible, there is a genuine lack of roles out there and its not going to get any better in the next 6 months - as someone said before if you have a role sit tight and wait it out, or sit at home and wait it out

Not all, a few chaps I know that commute to London have said no as no expenses (and it costs them £800 a week) that would now need to come from net income, they would end up on about £19 an hour from a £500 day rate.


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[cosmic]

Not all, a few chaps I know that commute to London have said no as no expenses (and it costs them £800 a week) that would now need to come from net income, they would end up on about £19 an hour from a £500 day rate.


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Ouch. It's better to be perm! For me inside is fine but within local area (west mids). Anywhere else would need to be out, No way would I take that kind of hit.

[BigJohn]

Not all, a few chaps I know that commute to London have said no as no expenses (and it costs them £800 a week) that would now need to come from net income, they would end up on about £19 an hour from a £500 day rate.


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In times like these we all need to be resourceful and start cutting back. I’m sure the £800pw can be reduced.

Cut back on the luxuries, save the money, that will build the warchest, that’ll help when looking for a role closer to home.

[GhostofTarbera]

In times like these we all need to be resourceful and start cutting back. I’m sure the £800pw can be reduced.

Cut back on the luxuries, save the money, that will build the warchest, that’ll help when looking for a role closer to home.

£800 is the cut down rate !!!

£350 for flights (not the best timing flights, as they are £500+ each week even if booked months in advance) only leaves very basic hotel £80 a night + food + transport to airports )




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