contract to permanent

[Paralytic]

All the banks are now inside ir35

No they're not.

[NowPermOutsideUK]

Another way would be to say, at the end of the 3 months, that I'm not 100% sure about going permanent so how about you extend me for another 3 months so I have a bit more time to think about that? And milk another 3 months at 650 a day, hoping the market will have opened up by then.

This is sound advice. String them along. What harm happens?

[NowPermOutsideUK]

No they're not.

Please explain in that case. It’s what I have been told after spending 15 years in the industry with contacts at a lot of the banks and former colleagues

[Amanensia]

Please explain in that case. It’s what I have been told after spending 15 years in the industry with contacts at a lot of the banks and former colleagues

He's right. Most roles in banks are certainly inside but I'm aware of several people in my niche who are still outside. Indeed, the team I left (at a UK big four bank) for a new role at the end of last year are still outside.

[Paralytic]

Please explain in that case. It’s what I have been told after spending 15 years in the industry with contacts at a lot of the banks and former colleagues

Many banks changed their approach to simply not engage with Ltd company contractors; in these cases, there is no intermediary, so no IR35 determination is needed. The roles are not inside IR35. Anyone who told you otherwise does not know what they are talking about.

Some banks did make some exceptions for some roles (outside IR35), but in much smaller number than existed prior to April 2020.

[NowPermOutsideUK]

You are kidding me. Banks are not engaging with ltd contractors means there are zero (ok maybe a handful) of outside ir35

This was my point. You be agreed to it in a circular way

[northernladuk]

Another way would be to say, at the end of the 3 months, that I'm not 100% sure about going permanent so how about you extend me for another 3 months so I have a bit more time to think about that? And milk another 3 months at 650 a day, hoping the market will have opened up by then.

But you'll lose the gig to someone who's convinced the agent that you are in for the long game whatever.

[Paralytic]

You are kidding me. Banks are not engaging with ltd contractors means there are zero (ok maybe a handful) of outside ir35

This was my point. You be agreed to it in a circular way

You didn't say no 'outside IR35" contracts - you said they were Inside I35. Most contractor engagements with banks are are now neither.

So, to be clear, I was not agreeing with you in a circular, or any other, way.

[NowPermOutsideUK]

Maybe it’s just me but I want to clarify how many different ways of working exist in the Uk

You have

1) perm with a salary and a notice period of one month or more
2) outside ir35. The usual and old way of working via ltd with tax optimisation available
3) FTC which is a contractor with a fixed termination date. Are these quoted as perm salaries like 100k or day rates like 650 a day and do you have to use an umbrella or payroll company of are you part of the employer payroll
4) inside ir35 which I think means a day rate but no tax optimisation and you have to use an umbrella

Is this the new way of working in large corps in Great Britain these days? Are there any others to be aware of

[WTFH]

Maybe it’s just me but I want to clarify how many different ways of working exist in the Uk

You have

1) perm with a salary and a notice period of one month or more
2) outside ir35. The usual and old way of working via ltd with tax optimisation available
3) FTC which is a contractor with a fixed termination date. Are these quoted as perm salaries like 100k or day rates like 650 a day and do you have to use an umbrella or payroll company of are you part of the employer payroll
4) inside ir35 which I think means a day rate but no tax optimisation and you have to use an umbrella

Is this the new way of working in large corps in Great Britain these days? Are there any others to be aware of

Please don't start polluting multiple threads with your rate claims, you were allowed back based on you behaving yourself.