Stay Perm or go Contracting?

[Move D]

Evening,

I’ve been offered a contact @ 700 a day (inside IR35 not using a LTD). I’m currently a perm on 65k. Fairly longterm contract from what I can glean. Am I right in thinking that I should be looking at half of 700 as my take home, so £350ish? Several different IR35 calculators seem to fluctuate quite a bit.

If it was you, Is this gig worth taking based on these numbers?

[NowPermOutsideUK]

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[nathanuk]

Evening,

I’ve been offered a contact @ 700 a day (inside IR35 not using a LTD). I’m currently a perm on 65k. Fairly longterm contract from what I can glean. Am I right in thinking that I should be looking at half of 700 as my take home, so £350ish? Several different IR35 calculators seem to fluctuate quite a bit.

If it was you, Is this gig worth taking based on these numbers?

Expect Around 54% .. you are likely to earn around 7500 for 20 days. But you can allocate about 40k to pension and that will reduce your tax.

[edison]

Perhaps take a wider view rather than just pure take home pay.... what's your current skillset and how does £65k perm or £700/day inside compare? How likely are you to be able to withstand a downturn if the recession takes hold? How much do you value the security of a longer term contract? Also, IR35 rules will be changed from April 2023 so that might be a factor for you too.

[eek]

https://www.payslipbuddy.co.uk will give you an accurate estimate of what you will pay.

[northernladuk]

You won't be earning anything if the gig evaporates before you step foot on site. The gig is only as long as it's notice period as well.

[mallisarealperson]

Err role up role up it a Cold Storage Sockie.

[Move D]

Expect Around 54% .. you are likely to earn around 7500 for 20 days. But you can allocate about 40k to pension and that will reduce your tax.

Slightly then what i initially expected, good to know. Will factor this is to the decision.

[Guy Incognito]

You won't be earning anything if the gig evaporates before you step foot on site. The gig is only as long as it's notice period as well.

Same is true of "permanent" roles.

[northernladuk]

Same is true of "permanent" roles.

Same but no way the same level of risk.