Starting a new contract - checklist

[NibblyPig]

I'm probably going to get my first contract soon, I've set up a company and although I'm currently a permie I have a massively reduced notice period (7 days technically, they'll probably negotiate to 3 or 4) so I felt it was the optimal time to try, due to redundancy (although I've been served, I don't get the boot until october).

I've just been searching for a checklist and the standard procedure for doing a contract. If I have it right, it'll go something like this:

(Setting up the company etc. I already did, but found this checklist useful for that)

- Get confirmation from the agency that the company wants to hire me.
- Get sent a contract.
- Check the contract myself, then if it looks ok, pay for it to get reviewed for IR35.
- Several days later, get it back with some amendments/suggestions.
- Sign & send the amended contract to the agency and get them to sign it.
- Once confirmed, hand in my notice, at which point I'll immediately know my last day (probably 3 days later)
- 3 days later, start my new job.

Although I've set up my LTD and have an accountant, I literally have nothing else - so I was going to probably go the QDOS route by phoning them up and checking what sort of insurances I need, I'd probably get the IR35 insurance too just because I'm paranoid about it, and it all seems to include 3 free contract reviews which is what I'd use to get my contract checked.

Does the above sound like the normal procedure? I have this feeling of dread that the agency/client might be completely unwilling to change the contract, or that the time delay when the client wants me to start ASAP will create a conflict and possibly cost me the job. But I want to do things correctly, and not get murdertaxed by HMRC.

[malvolio]

One minor detail....

Why do you think someone wanting a temporary resource will wait 2-3 weeks while you -a first time contractor with no history - faff around and serve your notice period? Or that the agency will be delighted to wait while you send them back an amended contract they will have no intention of agreeing to? The offer will be withdrawn by about Day 3: Day 1 if they find you're still in a job..

Interview one Monday, start the next one. That's your timeframe. Plan accordingly.

HTH

[NibblyPig]

One minor detail....

Why do you think someone wanting a temporary resource will wait 2-3 weeks while you -a first time contractor with no history - faff around and serve your notice period? Or that the agency will be delighted to wait while you send them back an amended contract they will have no intention of agreeing to? The offer will be withdrawn by about Day 3: Day 1 if they find you're still in a job..

Interview one Monday, start the next one. That's your timeframe. Plan accordingly.

HTH

That makes perfect sense, but half the forum is saying you must get IR35 reviews, you mustn't start without a contract etc. but on the other hand I'm hearing, you have to start (no time for a review) you can't change your contract (the agency won't let you) and you need to quit your job before even seeing the contract for it to work.

This is very stressful and confusing!

[malvolio]

That makes perfect sense, but half the forum is saying you must get IR35 reviews, you mustn't start without a contract etc. but on the other hand I'm hearing, you have to start (no time for a review) you can't change your contract (the agency won't let you) and you need to quit your job before even seeing the contract for it to work.

This is very stressful and confusing!

If it wasn't, everyone would be doing it. Welcome to our world.

[NibblyPig]

Hah. Based on what I know, every contractor I've spoken to in real life either has no idea what IR35 is, or is just ignoring it and hoping that by keeping their contracts "fairly short" (under 18 months) that they'll never have to worry about it. (No, they don't have insurance against it either).

I'm trying to get a feel for what people on this forum are doing. I'm currently leaning towards will call you a sucker for not getting a contract review whilst simultaneously simply ignoring IR35, but I am really trying to ascertain the truth

[oversteer]

Ultimately 7 days notice is better than most permies who will have a month.

QDOS will turn around a contract pretty quickly.

Apply for jobs, get interviews then worry about it.

[northernladuk]

I wish you would try the search option. Everything any newbie to contracting wants to know, and more importantly, 1000's of posts on what he doesn't know he needs to know is there.

Try reading through them and get an idea what is a contentious issue and what is we all seem to agree on. Find the bits we cannot agree and the ones we are as one. It is pretty obvious from posts.

Just starting threads to chat away is not really doing good research and allowing you to learn and make your own mind up. Remember, as a contractor you are by yourself, no hand hold, no HR, no line manager and on top of that you are also legally responsible for your finances. Time to step up rather than just making idle chit chat about nothing in particular.

Do all that and then come back with a specific question.

[cojak]

Hah. Based on what I know, every contractor I've spoken to in real life either has no idea what IR35 is, or is just ignoring it and hoping that by keeping their contracts "fairly short" (under 18 months) that they'll never have to worry about it. (No, they don't have insurance against it either).

I'm trying to get a feel for what people on this forum are doing. I'm currently leaning towards will call you a sucker for not getting a contract review whilst simultaneously simply ignoring IR35, but I am really trying to ascertain the truth

I have my contract and working practices outside of IR35 and consider my company a proper business.

I perform due diligence on my clients and expect them to do the same to me. How others work is of no concern of mine.

There are so many suckers out there HMRC will have a grand old time with them.

[northernladuk]

I have my contract and working practices outside of IR35 and consider my company a proper business.

I perform due diligence on my clients and expect them to do the same to me. How others work is of no concern of mine.

There are so many suckers out there HMRC will have a grand old time with them.

Totally this. I mean, what if they decide to come up with some stupid questions to try and sort the chaff from the wheat and then go after the easy targets... oh.. hang on

Just because some people can't run their business properly should be no concern of yours, run yours properly and keep yourself safe.

[malvolio]

And get over to www.pg.org.uk, download their Guide to Freelancing and start reading. Everything you are asking is in there, written by real experts (ones even better than me... )