When to hand in notice

[Hogan]

Hi All,

I've been weighing up the move from permie to contractor for a while, and have now been offered a decent 6 month contract.

The client would like me to start asap and hand my notice in as soon as I get into the office next week - having not seen any contract or anything written down, I'm obviously a bit cautious about doing this.

At what point should I hand in my notice - I still need to confirm the IR35 status of the contract ... some honest non-agency input would be great

Thanks for all the advice on these boards, it's been a great help in making the leap (well almost there...).

Thanks in advance.

[malvolio]

Chicken and egg time - welcome to the day-to-day problems of the freelance!

Is the certainty of the potential contract high enough to warrant putting yourself out of work completely? Are there other contracts you can pick up if this one breaks down? Have you enough savings or other resources to survive three months without income? Will this contract evaporate if you delay a week while getting Bauer and Cotterell to sort the details?

Sadly only you can make the call, but those are the questions you need to answer. The big change from permie to freelance is that level of uncertainty and risk-taking and is the sort of thing you'll be facing every 3-6 months. Are you feeling lucky?

Also usual rules apply. Join the PCG (www.pcg.org.uk) and read all the first timer guides you can find. And if you're not certain you can do the freelance thing, then don't.

Good luck, whichever way you jump.

[privateeye]

Firstly I would wait until the contract is signed by the other party but also make sure there are no escape clauses such as "the agent/client may pull out of this agreement anytime prior to the start date" otherwise you need to feel very confident that the offer will be carried through.

[BlasterBates]

It might be possible to get some sort of contract signed up quickly. It isn´t uncommon for the signed contract to appear after you´ve agreed everything. I must say I haven´t been bothered about the formalities of signing because usually either I was informed my contract was ending anyway, or I was "between contracts". Difficult one. Going from permie to contractor is a big decision. Once you´re a contractor its easy. I must say when I went from permie I did have a contract when I resigned, but that was on a retainer rate of a couple of grand a month, but that was in the hyper-boom before 2000.

[Hogan]

Thanks guys - I think I'll try and find out about the IR35 status and also that it doesn't have any sneaky clauses in the contract.

I know the client are pretty desperate and have interviewed lots of potentials, and have struggled to find anyone suitable - so from that point of view it seems unlikely that they'll pull out.

Thanks again - looking foward to joining the freelance community!

[malvolio]

it seems unlikely that they'll pull out

Ah, the naive innocence of the newborn... You may be right, but never ever rely on it - this is a different world! Golden rule of freelancing - if it's not on an invoice, nobody owes you anything.

[Sergeant Apone]

Thanks guys - I think I'll try and find out about the IR35 status and also that it doesn't have any sneaky clauses in the contract.

I know the client are pretty desperate and have interviewed lots of potentials, and have struggled to find anyone suitable - so from that point of view it seems unlikely that they'll pull out.

Thanks again - looking foward to joining the freelance community!

They can't be that desperate if they're being picky, so don't take anything for granted. Remember, nothing counts for anything until it's on paper.

[TheMonkey]

Get contract, pull sicky, resign, don't get paid for notice.

[boredsenseless]

Get contract, pull sicky, resign, don't get paid for notice.

Yeah not the most professional way of doing things...

Malvolio was right, have you checked that there are other options if this one falls through.

Do you have 3 months income in reserve.

Is the rate sufficiently higher than your job to compensate for the fact you may be on the bench for months at a time.

If you can answer yes to allthree, then contracting is a good idea and I'd chuck in the resignation tomorrow otherwise I'd knuckle down and work towards making the golden rules work for you.

People who start contracting without these being met inevitably end up on the bench get desperate take a job for crap money and then they are tied down to that rate for longer than they'd like. It also pulls the rates down for everyone else.

[DaveB]

Yeah not the most professional way of doing things...

Malvolio was right, have you checked that there are other options if this one falls through.

Do you have 3 months income in reserve.

Is the rate sufficiently higher than your job to compensate for the fact you may be on the bench for months at a time.

If you can answer yes to allthree, then contracting is a good idea and I'd chuck in the resignation tomorrow otherwise I'd knuckle down and work towards making the golden rules work for you.

People who start contracting without these being met inevitably end up on the bench get desperate take a job for crap money and then they are tied down to that rate for longer than they'd like. It also pulls the rates down for everyone else.

Not always true. I got the contract, negotiated departure from my permie role and start dates for the contract and everyone was happy. It is possible, the key is to talk to people.

Your'e going into business on your own account. Learn to negotiate.