Take a 45% cut post tax for a perm job to just about pay off the bills or wait?

[hugebrain]

So you have 24 months of FULL rate sat in the bank do you ?

I'm all for having a war chest but it would take me, or anyone for that matter, years and years to have 200k put aside.

It just takes a year and a fairly standard 100 quid an hour contract (OK maybe an extra couple of months to cover your living expenses).

Of course you should have done this last year (like I did) when there were contracts available and I probably only saved 150,000 since I wanted to have some fun too.

You are making this sound much harder than it is. It’s starting to worry me.

[ChimpMaster]

It just takes a year and a fairly standard 100 quid an hour contract (OK maybe an extra couple of months to cover your living expenses).

Of course you should have done this last year (like I did) when there were contracts available and I probably only saved 150,000 since I wanted to have some fun too.

You are making this sound much harder than it is. It’s starting to worry me.

£800/day is not standard.

£400/day is probably closer to being a modal rate.

But well done on your success.

[Old Greg]

It just takes a year and a fairly standard 100 quid an hour contract (OK maybe an extra couple of months to cover your living expenses).

Of course you should have done this last year (like I did) when there were contracts available and I probably only saved 150,000 since I wanted to have some fun too.

You are making this sound much harder than it is. It’s starting to worry me.

You saved 150k personally or in your company's bank?

[hugebrain]

£800/day is not standard.

£400/day is probably closer to being a modal rate.

But well done on your success.

Thanks.

I always thought people who could write proper programs earned more than us cut and pasters.

Still it would only take a la mode types around two and a half years at 400/day to save 200,000, so that’s nice.

(And yes to the other question, it’s in the personal bank account - which I realise is also a bit stupid)

[Old Greg]

Thanks.

I always thought people who could write proper programs earned more than us cut and pasters.

Still it would only take a la mode types around two and a half years at 400/day to save 200,000, so that’s nice.

(And yes to the other question, it’s in the personal bank account - which I realise is also a bit stupid)

I'd be interetested to see the sums that get you from 100 per hour pre tax to 150k post tax saved in just over a year.

[hugebrain]

I'd be interetested to see the sums that get you from 100 per hour pre tax to 150k post tax saved in just over a year.

Abroad, and it was a shade over 100 for 13 months.

You contractors are obsessed with tax.

[Lance]

.

You contractors are obsessed with tax.

You’re new aren’t you?

[perplexed]

You’re new aren’t you?

Or not.

[dsc]

Thanks.

I always thought people who could write proper programs earned more than us cut and pasters.

Still it would only take a la mode types around two and a half years at 400/day to save 200,000, so that’s nice.

(And yes to the other question, it’s in the personal bank account - which I realise is also a bit stupid)

I'll bite and ask, how? Assuming you work 250 days a year which imho is still plenty that is still only 250k pre corp tax, living costs etc. and that is still owed by the company, so additional tax to pay if you want to get it out. 5 years is probably more realistic and still assuming you live like a hermit and that you have no breaks in-between contracts.

[jamesbrown]

I'd be interetested to see the sums that get you from 100 per hour pre tax to 150k post tax saved in just over a year.

Sums are definitely wrong. Assuming a liberal 220 days per "just over a year" and minimal expenses, that's 176k pre-tax (ignoring VAT). Obviously, no way you get to 150k post-tax from that with CT alone at 19%, unless you're a scheming cretin or there are a lot of days in your "just over a year".