Long term contracts - 2 years plus.

[RFDAndy]

Good afternoon all.

I've just joined this forum after being a bit of a lurker for a while now, hopefully you'll all go easy on me! I remember reading some interesting an informative info on here when I started out contracting, and I was rather hoping I could find some relelvant info again now.

I got made redundant a couple of years back, and thought I would have a shot at contracting (I'm a Mechy design engineer). I managed to get a contract that was originally for 6 months, but this was then extended on a 1 week rolling basis, until further notice. I am handling the money side of things through an Umbrella agency.

Last week, I realised that I have been working for the same company now, for over 2 years (in the same location). I know there are some changes with regard to expenses (mileage, subsistence etc) as my Umbrella company makes me tick a disclaimer about them whenever I make a claim, but I was trying to find out if anything else changes with respect to things like terms and conditions, pay rates, expenses, etc etc.

I don't suppose anyone else has ever been in a similar situation?

Cheers!
Andy

[craig1]

If you feel you're secure (or getting bored!) you could approach the agent and/or client to say that you're now out of pocket because of the two year rule and you'd like them to contribute to the money you're losing. Tell them how much you're going to lose out and then ask them what they offer. For example, if my travel and other expenses were £400 a month, I'd be looking for a £20 daily rate rise as a minimum and lump the rest of the costs myself but I'd be asking for £30-£35 a day*. No point you being out of pocket if you can get the client to pay out.

* £20 a day extra is £400 extra revenue a month on average allowing for the extra day off or so. Then you've got to remove your tax from that, assume 40% for argument's sake, so £240 net. £30 a day is about £360 net and £35 is £420.

[northernladuk]

If you have been a lurker for awhile you should have seen plenty of posts about the 24 month. It isn't 'some changes', it is a very important aspect you have to consider else get in to a lot of trouble. There is a thread in the Accounts section from one poster that has fallen foul of exactly this right now.

What exactly is the disclaimer you are ticking. Does it say something along the lines that you are aware of the 24 month rule and claiming expenses back after this is your responsibility not the umbrella?