Hi all. I have just secured my first contract, 6 months with accenture. I set up a Ltd Co. but have been told by them that the normal payment method with them is to be payrolled through NetworkersMSB. Seems a bit strange to me as I applied directly to then be pointed in the direction of a recruitment company for payment. Anybody got any advise/views on this?
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Hi Jackso11, I've moved this so you get more constructive replies.
AFAIK, Accenture are a consultancy, and the typical model for consultancies is to take on staff as PAYE perm and pimp them out to unsuspecting clients (often working on client site) at a massively hiked daily rate. It's not unheard of for terrified, wide-eyed and blinking ex-grads to be paid 30k and presented to the client for >2k a day.
I know 2 types of consultant - those mentioned above, and ones who have their own co, usually having written a book or two on their subject area, parachuted in to FTSEs for short periods of time because it's way too expensive to have them on the books for longer. -
You invoice the agency, and the agency invoices the client. Client pays agency, agency pays you. Not necessarily in that order. I don't know how Accenture work, but unless the agency tells you differently, I would suggest that you happily invoice the agency for the agreed amount.Originally posted by jackso11 View PostIf your company is the best place to work in, for a mere £500 p/d, you can advertise here.Comment
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Accenture as your 1st contract - I feel for you, I really do -no one should have to endure that.How fortunate for governments that the people they administer don't thinkComment
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first time contracting so new to this, but umberella companies are saying I can end up taking home 86.44% of what I earn if I claim back tax for various things, at amounts pre-approved by HMRC.....is this right or is it a sure fire way of getting in trouble?Comment
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I've just moved onto a project where Accenture are involved and jesus christ their people put in some long hours! Best of luck but I think for a first contract expect to be run hard!Comment
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Don't believe everything an Umbrella tells you. It depends on how much expenses you take from the salary, how much tax you pay for the employee and employer (NI and Income Tax - Don't be fooled into thinking the Umbrella pays this out of their profits, it comes out of your rate!).Originally posted by jackso11 View PostIf your company is the best place to work in, for a mere £500 p/d, you can advertise here.Comment
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From everything I have read...and I have spent a lot of time reading, Ltd Co. Is the way to go on a £25p/h rate....am I right?Comment
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I guess you will learn the hard way. I spent about 6 months on these forums and asking friends and collegues about contracting before I went into it and even then it was a shock to the system - but now I am starting to reap the rewards.From everything I have read...and I have spent a lot of time reading, Ltd Co. Is the way to go on a £25p/h rate....am I right?
£25/hour is very low for a contract, what are you doing there to warrant such a low rate?Comment
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