starting my 1st contract

**Lance** · 7 June 2023, 10:43

read the first timers guide to the right ------->>>

then come back and ask questions. yes a LTD can be setup quite quick, but you don't have very much time considering you don't even know where to start (HINT: there's a lot more to it than just company formation).

**PCTNN** · 7 June 2023, 11:13

Originally posted by londonrulz View Post

After being a permi for 10 years, I have decided to get into contracting. Have got a potential offer from an agent for an initial work of 4 months outside IR35. Agency is pushing for their sister umbrella company, but I think its better to go ltd as its IR35.

-The client wants me to start from next week. Since its my 1st contract I don't know the steps. Can any experienced ones in here, tell me on what happens next and anything I need to be aware of? (contract review? etc).
-I haven't got ltd setup yet, but believe it only takes few minutes/hours to get it done online.
-Agent hasn't talked about the hourly rate since first time and the range specified on advert. Should I explicitly do that before offer, or see what he comes with?

Thanks!

1) you speak about a "potential offer" but then say the client wants you to "start from next week". Doesn't sound right. Have you received an offer yes or no?
2) the agent hasn't talked about the hourly date...doesn't sound right either. When you applied for the role what hourly rate did the agent put you through for?
3) do you even have a contract?
4) are you for real?

Stay permie.

**northernladuk** · 7 June 2023, 11:22

Originally posted by PCTNN View Post

1) you speak about a "potential offer" but then say the client wants you to "start from next week". Doesn't sound right. Have you received an offer yes or no?
2) the agent hasn't talked about the hourly date...doesn't sound right either. When you applied for the role what hourly rate did the agent put you through for?
3) do you even have a contract?
4) are you for real?

Stay permie.

This. You've not got an accountant, you've probably not got a LTD, you've zero understanding of what you are as a contractor. You've zero understanding of IR35 which is extremely important and it's complex. You've no idea what to do with the contract, what to check, who actually signs and don't appear to be able to do the mountain of research you should be doing.

Start next week is far too early and you've no time to do it properly even if you knew what that was.

Aside all the above it's highly likely the agent will be using your naivety to absolutely pull your pants down but at the moment you've no idea if they have or why they are doing it.

Contracting is not something you can just swan in to in less than a week.

What are you doing about notice period from your employer?

**cojak** · 7 June 2023, 11:31

On the positive side, you’re going to learn a shedload of things very quickly. Just make sure that one of those things isn’t about paying less tax than HMRC thinks you should be paying.

**quackhandle** · 7 June 2023, 11:37

Originally posted by londonrulz View Post

After being a permi for 10 years, I have decided to get into contracting. Have got a potential offer from an agent for an initial work of 4 months outside IR35. Agency is pushing for their sister umbrella company, but I think its better to go ltd as its IR35.

That makes no sense at all. You may want to keep being a permy, just a suggestion.

Good luck.

qh

**DrewG** · 7 June 2023, 11:42

You've made the mistake of coming to this forum and not understanding the etiquette required to deal with jaded old blokes (and the odd woman).

**Lance** · 7 June 2023, 12:02

Originally posted by DrewG View Post

You've made the mistake of coming to this forum and not understanding the etiquette required to deal with jaded old blokes (and the odd woman).

because you have so much help to offer!!!

Maybe OP should have gone to a public school?

**malvolio** · 7 June 2023, 12:02

Originally posted by DrewG View Post

You've made the mistake of coming to this forum and not understanding the etiquette required to deal with jaded old blokes (and the odd woman).

I suggest you keep out of it. Someone is about to make a big expensive mistake

**Paralytic** · 7 June 2023, 12:42

Originally posted by DrewG View Post

You've made the mistake of coming to this forum and not understanding the etiquette required to deal with jaded old blokes (and the odd woman).

She's not that odd.

OP. Stay permie until you learn more and/or have a positive offer on the table, with a rate you've agreed to, with an understanding that you're probably going to end up inside IR35, and accept that you could be unemployed in 4 months or less.

starting my 1st contract