First Contract Role - Tips and Guides

[malvolio]

how what?

"stash as much as you can away in the warchest"

Which is good advice but it's not as simple out of net IR35 income. Most talk of war chests are around parking pre-taxation income in a pension fund of some sort or leaving it in the company for later use when on the bench. I was thinking some advice around how to balance income against war chest when you are talking about post taxation income. I'm guessing the OP is not yet at a point where a pension fund is on their radar...

[PCTNN]

"stash as much as you can away in the warchest"

Which is good advice but it's not as simple out of net IR35 income. Most talk of war chests are around parking pre-taxation income in a pension fund of some sort or leaving it in the company for later use when on the bench. I was thinking some advice around how to balance income against war chest when you are talking about post taxation income. I'm guessing the OP is not yet at a point where a pension fund is on their radar...

Yes, I see your point.

I was referring to post-taxation income given my previous point around having a net income higher than your permie counterpart. I don't know the OP's situation, but based on my experience contracts in the public sector allow you to do that despite being inside ir35 (for example in one of my most recent PS contracts I was making £600 a day inside ir35 when for the same position/seniority permies were making 42k a year).

[Protagoras]

Hello everyone,

I will start my first contractor role in the public sector in a few weeks. I want to know what it looks like working in the public sector in a contract role.

How is the relationship between the permanent staff and the contract staff like? What are the deliverables for contractors?

Any guide/leads are appreciated

Welcome to the wonderful world of contracting!

Here’s a few thoughts, which don’t necessarily align with some of the advice above …

• Don’t let your ‘inside’ status get in the way of contractor thinking. You’ve chosen to be a contractor. You’re not an ‘employee’ in any meaningful sense (the ‘inside’ status allows you to be relaxed about being controlled on this engagement)
• Avoid all politics, office and otherwise
• Don’t be arrogant or aloof
• Build ‘social capital’. Find out who does what and identify helpful people who know how to get things done and blockers removed
• Don’t get sucked into the organisational culture or ‘go native’
• Identify the key client stakeholders, understand their needs, make sure that they know that you’re providing value add
• Know your scope and deliverables, agree and document anything beyond this. Think and act as a supplier, not a person.
• Become the ‘go to’ point of contact for your expertise; this could secure your next opportunity
• No surprises. If something is not going well, don’t cover it up
• Adhere to client’s policies (e.g. quality and change control)

And away from the working environment

• Learn about contracts, off-payroll rules, pensions, war chests, insurances ...
• Enhance your network; this is where future opportunities mostly come from

[northernladuk]

Welcome to the wonderful world of contracting!

Here’s a few thoughts, which don’t necessarily align with some of the advice above …

• Don’t let your ‘inside’ status get in the way of contractor thinking. You’ve chosen to be a contractor. You’re not an ‘employee’ in any meaningful sense (the ‘inside’ status allows you to be relaxed about being controlled on this engagement)
• Avoid all politics, office and otherwise
• Don’t be arrogant or aloof
• Build ‘social capital’. Find out who does what and identify helpful people who know how to get things done and blockers removed
• Don’t get sucked into the organisational culture or ‘go native’
• Identify the key client stakeholders, understand their needs, make sure that they know that you’re providing value add
• Know your scope and deliverables, agree and document anything beyond this. Think and act as a supplier, not a person.
• Become the ‘go to’ point of contact for your expertise; this could secure your next opportunity
• No surprises. If something is not going well, don’t cover it up
• Adhere to client’s policies (e.g. quality and change control)

And away from the working environment

• Learn about contracts, off-payroll rules, pensions, war chests, insurances ...
• Enhance your network; this is where future opportunities mostly come from

Very nice list.

[northernladuk]

Stuff

BTW Welcome to the ban club. You've earned your wings and are a proper poster now.

[PCTNN]

BTW Welcome to the ban club. You've earned your wings and are a proper poster now.

That's all I've ever wanted. It's a true Christmas miracle