London perm salaries

[LondonPM1]

So is your suggestion not to work again?

Well just look at those figures they paint a picture of what is reality and make you weep ....

The only option for me is:

1) return as a contractor outside IR35 and save the money in the company and pay corp tax of 19% and put family on payroll to extract the cash out slowly
2) Work outside the UK which is what I am currently doing
3) Start a import export business or something on amazon where I can work through a LTD

My point is perm working on salary is just not worth it anymore

[LondonPM1]

This blog post should be in general...

Great idea - It took me a great deal of time and effort to put up some serious material and you want to troll on the forum to pass your boring sunday

The reason it is not in general is because this is serious and concrete - Not general discussion for the wild west

[SussexSeagull]

The double whammy of Brexit and Covid-19 has managed to do what several foreign militaries, a great fire, the plague and numerous financial recessions couldn't and kill the City of London as an engine of growth in this country.

People need to start getting their heads round this and it's implications for the rest of the country. While it could be argued a long term rebalancing of the economy is overdue it won't be pretty while it happens.

[eek]

The only reason why it's not worth working for you is the £75k you earn from your investments.

So Apart from a look at how rich I am post I really don't get what you are complaining about.

[plutocrat]

Well just look at those figures they paint a picture of what is reality and make you weep ....

The only option for me is:

1) return as a contractor outside IR35 and save the money in the company and pay corp tax of 19% and put family on payroll to extract the cash out slowly
2) Work outside the UK which is what I am currently doing
3) Start a import export business or something on amazon where I can work through a LTD

My point is perm working on salary is just not worth it anymore

Option 1 is mostly out because there are very few outside IR35 contracts about because of the covid induced recession and the forthcoming changes in April. Option 3 is risky.
I'd stick to option 2.

[LondonPM1]

The only reason why it's not worth working for you is the £75k you earn from your investments.

So Apart from a look at how rich I am post I really don't get what you are complaining about.

Complete nonsense - I imagine many people have investments and passive income

The fact of the matter is that the new normal is perm work and contracting is over - My point is to show that perm salary is not great

If I am mistaken with the figures that is where your kind contribution would be useful

If my figures are correct you should be alarmed that more people wont up sticks and leave the UK

[SussexSeagull]

Well just look at those figures they paint a picture of what is reality and make you weep ....

The only option for me is:

1) return as a contractor outside IR35 and save the money in the company and pay corp tax of 19% and put family on payroll to extract the cash out slowly
2) Work outside the UK which is what I am currently doing
3) Start a import export business or something on amazon where I can work through a LTD

My point is perm working on salary is just not worth it anymore

Regardless of anyone's views on the current level of taxation in this country a lot of people haven't got the option of leaving the country or putting relatives on the payroll (in fact with the current direction of travel I can't see that being an option for too much longer). Starting an import/export business might be a leap for some.

On the other hand mortgages and bills don't wait for recessions to end so people are finding shelter where they can at the moment.

[eek]

Complete nonsense - I imagine many people have investments and passive income

The fact of the matter is that the new normal is perm work and contracting is over - My point is to show that perm salary is not great

If I am mistaken with the figures that is where your kind contribution would be useful

If my figures are correct you should be alarmed that more people wont up sticks and leave the UK

If I had investments generating £75k a year pre tax - I wouldn't be working and nor would anyone else I know - we would be retired.

Which is why your example is f***ing insane and you are either a or a troll

[jamesbrown]

Great idea - It took me a great deal of time and effort to put up some serious material and you want to troll on the forum to pass your boring sunday

The reason it is not in general is because this is serious and concrete - Not general discussion for the wild west

It is a blog post that belongs in general. Literally no one cares about your personal circumstances or musings about what makes sense or doesn't make sense from your financial POV.

I cannot detect a question in there (absence of a question mark being a good indication), so there is no question that merits our attention. General.

[jamesbrown]

Which is why your example is f***ing insane and you are either a or a troll

I wouldn't rule out both.