Cancelled assignment

[kingcook]

Also, I have a wife that works part time and a 2 year old daughter that goes to a private nursery part time. Can I make my wife an employee of the limited company if I decide to set one up? If so, what would be the advantages of doing this? Sorry I have so many questions at present and am still learning. Obviously I want to extract the very most I can from my assignments (even though I currently don't get a lot of work at all) as we have a mortgage to pay as well as all bills, council tax etc etc. We are finding it hard to make ends meet.

With an annual turnover of £5K, I'd be more concerned about getting a proper gig.

Try to find a decent paying contract first, then get an accountant immediately.

I would not be twidling my thumbs waiting for a phonecall from Hays. Get your CV up to scratch, get looking on websites for contracts and start earning some real money

[mudskipper]

OK, that's fine. Please can somebody just explain whether or not the deal offered by SJD Accountancy is any good or of benefit to me? Thank you

If you set up a limited company, you are committed to it for some time - if a month down the line you do get a perm job, you will still have all the expenses of the limited - to wrap it up will cost you and you will almost certainly be committed to a year's accountancy fees if you want them to do your final accounts. Don't set up a limited unless you're planning to carry on as you are for at least a year, and even then at that level of income it really seems like overkill.

What do you do? Are you an IT contractor?

[Magpie2121]

With an annual turnover of £5K, I'd be more concerned about getting a proper gig.

Try to find a decent paying contract first, then get an accountant immediately.

I would not be twidling my thumbs waiting for a phonecall from Hays. Get your CV up to scratch, get looking on websites for contracts and start earning some real money

Thank you. I'll be doing 37.5 hours of work next week. Other than Hays and Jobserve, are there any other recommendations for IT contracting work I can check out in terms of websites? I'm struggling to find more work. I applied for a couple of jobs through Jobserve a couple of weeks back but have heard nothing. Most of the contractors I've bumped into have also recommended Jobserve and I've already uploaded my CV onto their website. I've not had anybody contact me though

[psychocandy]

jobsite, cwjobs, technojobs worth keeping eye on too.

[Magpie2121]

If you set up a limited company, you are committed to it for some time - if a month down the line you do get a perm job, you will still have all the expenses of the limited - to wrap it up will cost you and you will almost certainly be committed to a year's accountancy fees if you want them to do your final accounts. Don't set up a limited unless you're planning to carry on as you are for at least a year, and even then at that level of income it really seems like overkill.

What do you do? Are you an IT contractor?

Yes I'm an IT contractor. SJD accountancy have told me there is no minimum contract term with them so I can potentially leave after a few months If I want to. My ambition is to stay as a contractor for as long as possible but I'm struggling to find any work other than through Hays.

[sociopath]

It might be worthwhile revisiting your CV and expanding your area of search to increase your contract opportunities. Good luck to you.

[psychocandy]

Yes I'm an IT contractor. SJD accountancy have told me there is no minimum contract term with them so I can potentially leave after a few months If I want to. My ambition is to stay as a contractor for as long as possible but I'm struggling to find any work other than through Hays.

Dont get tied into one agent though. There are literally thousands around. Keep looking on the job boards.

[Brian Potter]

Are you doing on/off work for Dimension Data through Hays? Sounds like you're being operated like a tap. Your situation puts you in the perma-temp 0 hour contract camp.

You should be aiming for at least 3 month gigs to make this exercise more viable. Forget the ltd co route for now because you have no clue as to what the crack is. Get a 3 month gig under a brolly and research the Ltd co whilst doing the gig. At the end of the gig you should be in a better position and better informed to go ltd, remain brolly or go back to permie-land.

Opening a ltd is real easy, but closing one is a real pain in the c0ck and can be pricey too.

What's your bag in IT?

[TheFaQQer]

Is the above a decent deal bearing in mind I'm currently paying my current umbrella company £30 to process each payslip? Is there anything else I need to consider from the above email? Should I opt for the VAT registration? SHOULD I NOW FORM A LIMITED COMPANY??

If you don't know whether you should register a limited company, I'd suggest that you shouldn't be running a limited company.

[TheFaQQer]

Also, I have a wife that works part time and a 2 year old daughter that goes to a private nursery part time. Can I make my wife an employee of the limited company if I decide to set one up?

Yes. As long as her salary is commensurate with the work that she does.

If so, what would be the advantages of doing this?

She earns money, when she otherwise might not. Salary is an expense, so that reduces your corporation tax liability.

We are finding it hard to make ends meet.

If you think that contracting is a path to riches, then you might want to research your target market very carefully before jumping into it.