Hello Chaps,
Little about myself: 29yr old Engineer, Mainly EPC Oil and Gas, Decommissioning, reactivation stuff. Currently Contracting to a global turnkey well company. Here's where the quandry begins.
I've had an offer from Norway to contract to an operator, and they have asked what my rate expectation would be for a post. Its a rolling contract but the project is tendered out for 6yrs +
Having worked abroad, I have a rough idea of the % increase in typical UK rates, however I was hoping you guys would be able to shed a little more light on the subject; given the rate of tax in Norway. I have been asked to provide 2 options of remuneration
1. An all inclusive rate. Thats 4 flights a month, accommodation, per diem allowance, local travel and of course salary - not uncommon in the market I work in.
2. an independent rate. I sort everything myself and I invoice what I agree with the client. I've always opted for the all inclusive rate before but is there any benefit in doing it myself... would I save any money or can I offset all the expenses against tax in the UK as per usual?
I have a UK LTD co. I operate under and it suits me down to the ground. I have my accountant working on the figures from a tax POV, however I'm hoping to get an indication from folks that have been or are out in Norway contracting on a Shore basis, with occasional offshore visits.
With regard to the rates, what sort of % hike was it compared to the UK rate?
Furthermore, I was also asked to provide my desired net, and the client would work back to give the gross- would I be setting myself up for a fall if I played all my cards too soon??
Help!
P.
Little about myself: 29yr old Engineer, Mainly EPC Oil and Gas, Decommissioning, reactivation stuff. Currently Contracting to a global turnkey well company. Here's where the quandry begins.
I've had an offer from Norway to contract to an operator, and they have asked what my rate expectation would be for a post. Its a rolling contract but the project is tendered out for 6yrs +
Having worked abroad, I have a rough idea of the % increase in typical UK rates, however I was hoping you guys would be able to shed a little more light on the subject; given the rate of tax in Norway. I have been asked to provide 2 options of remuneration
1. An all inclusive rate. Thats 4 flights a month, accommodation, per diem allowance, local travel and of course salary - not uncommon in the market I work in.
2. an independent rate. I sort everything myself and I invoice what I agree with the client. I've always opted for the all inclusive rate before but is there any benefit in doing it myself... would I save any money or can I offset all the expenses against tax in the UK as per usual?
I have a UK LTD co. I operate under and it suits me down to the ground. I have my accountant working on the figures from a tax POV, however I'm hoping to get an indication from folks that have been or are out in Norway contracting on a Shore basis, with occasional offshore visits.
With regard to the rates, what sort of % hike was it compared to the UK rate?
Furthermore, I was also asked to provide my desired net, and the client would work back to give the gross- would I be setting myself up for a fall if I played all my cards too soon??
Help!
P.
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