Permies constantly joking about contractors being rich

[ELBBUBKUNPS]

Does not happen at my place as most the permies are on more than the contractors even if the contractor is outside of IR35.

[PerfectStorm]

Does not happen at my place as most the permies are on more than the contractors even if the contractor is outside of IR35.

1 Canada Square?

[TheFaQQer]

It gets better... word is we get a £600 raise in April!

Is the NI rebate still in place for next year? If it isn't, then it's probably worth dropping back down again to below the point at which salary attracts NI.

[Bunk]

Is the NI rebate still in place for next year? If it isn't, then it's probably worth dropping back down again to below the point at which salary attracts NI.

A pay-cut? My boss is a right b*****d

[TheFaQQer]

A pay-cut? My boss is a right b*****d

I've met your boss.

You're right

[Whorty]

I'm on minimum wage myCo just doesn't pay me much ... hardly even incurs income tax or NI

[mudskipper]

It gets better... word is we get a £600 raise in April!

That's a 6% payrise - better than most permies. I presume you'll pass the increased overhead onto the client.

[jamesbrown]

Is the NI rebate still in place for next year? If it isn't, then it's probably worth dropping back down again to below the point at which salary attracts NI.

Yes, I think it's pretty much indefinite, i.e. until removed:

https://www.gov.uk/employment-allowance

IIRC, they extended the remit in the Autumn Statement (to care/support workers), so it's definitely ongoing.

[northernladuk]

I politely tell people that it's not worth that much, you have to pay 3 kinds of tax that they won't (corporation, VAT and dividend) on a quarterly or annual basis, and that I could be told to leave tomorrow with no recourse. That you have to have an accountant - and a limited company that you're the director of. And a business bank account. And indemnity insurances. And that if they're still interested after that, that I'll happily discuss it over a coffee.

LOL, i've done this when permies have been having a dig.. 'Yeah but I have to £16K VAT a year before I even look at my income' normally shuts them up... No one yet has clicked

[d000hg]

I'm on minimum wage myCo just doesn't pay me much ... hardly even incurs income tax or NI

I think your company has accurately appraised what you're worth