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London perm salaries

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  • edison
    replied
    Originally posted by LondonPM1 View Post
    I pleased that all the pessimists have come out of the woodwork - This discussion is about perm salaries not contractor vs perms - I can tell you however that for me and my personal tax circumstances 650 a day was much better than 120K perm because I was able to

    1) work 250 days for six years
    2) able to retain a lot of the profits without taking them out of the company structure and bought BTL properties with them
    3) Put through two people on the payroll as company secretary
    4) Expense a lot of items

    Maybe for you it does not work out but for me it definitely did

    I hope we can now keep the discussion on the topic of salaries rather than try and sabotage the thread
    If you're comparing like for like roles, there's no way that a £120k salary job plus benefits equated to £650 day rate. Yes, you might have had a more beneficial tax outcome but you worked with hardly any holiday for six years. The bigger question is why you weren't on a day rate of £800 plus?

    WRT your original question, if you want to find comparisons, search for annual salary and contractor rate surveys that are published by several agencies such as Hays or Robert Half.

    IIRC Robert Half are more FS orientated than Hays. The figures are a decent guide by role and sometimes region. I get these types of guides as I've used their services, sometimes they become publicly available a few months after they are published.

    Leave a comment:


  • Whorty
    replied
    Originally posted by LondonPM1 View Post
    Yes my obsession with rates and salaries so that I periodically and regularly decide which one is better and where I should be pivotting to - Highly beneficial to always become better and you should try it.

    My calculations have been right - If I am wrong I asked you for your kind input already - No one actually double checked or discussed the numbers - We have some geniuses say that 75K passive income should mean retirement

    And my favourite "People get into contracting for many reasons. It's not just about tax" OF COURSE. For bettering humanity people become contractors and eneter the shady world of one man bands and limited companies from their bedrooms - Nothing whatsoever to do with tax )
    Mate, there is a difference between tax evasion and tax avoidance - what you're asking is for ways to evade tax (illegal) because you've already max'd your opportunities to avoid over-paying tax (legal).

    You also assume all contractors only contract to avoid tax - this is so flawed is comical. Paying less tax was never a consideration for me going contracting although it was a nice by-product. I also take FTC contracts (so fully in PAYE) and umbrella contracts as well as LTD (well used to but closed my company down). Personally I contract for the flexibility to take extended time off when I feel like it and not just the odd 2 weeks each year.

    Others will be contracting for different reasons - not everyone is trying to break the law

    Leave a comment:


  • Old Greg
    replied
    Originally posted by LondonPM1 View Post
    The stage is all yours - Lets see you do the weather dance today to take your post count to infinity
    Originally posted by LondonPM1 View Post
    Yes my obsession with rates and salaries so that I periodically and regularly decide which one is better and where I should be pivotting to - Highly beneficial to always become better and you should try it.

    My calculations have been right - If I am wrong I asked you for your kind input already - No one actually double checked or discussed the numbers - We have some geniuses say that 75K passive income should mean retirement

    And my favourite "People get into contracting for many reasons. It's not just about tax" OF COURSE. For bettering humanity people become contractors and eneter the shady world of one man bands and limited companies from their bedrooms - Nothing whatsoever to do with tax )
    You still here?

    And WTF: The main reason people get into contracting is the rates, and then people try to maximise their take home.

    The main reason people choose a Ltd Co. over a Brolly is the tax. But if you can't work this out, there's little hope for you.

    Leave a comment:


  • LondonPM1
    replied
    Originally posted by WTFH View Post
    Your obsession with salaries and equivalent rates, your incorrect calculations that you've made many times, your failure at mathematics - you keep repeating yourself, doesn't make them right.

    People get into contracting for many reasons. It's not just about tax.
    Yes my obsession with rates and salaries so that I periodically and regularly decide which one is better and where I should be pivotting to - Highly beneficial to always become better and you should try it.

    My calculations have been right - If I am wrong I asked you for your kind input already - No one actually double checked or discussed the numbers - We have some geniuses say that 75K passive income should mean retirement

    And my favourite "People get into contracting for many reasons. It's not just about tax" OF COURSE. For bettering humanity people become contractors and eneter the shady world of one man bands and limited companies from their bedrooms - Nothing whatsoever to do with tax )

    Leave a comment:


  • WTFH
    replied
    Originally posted by clearedforlanding View Post
    No quite sure why you are still rising to his tulip WTFH.
    I'm bored.

    I'm watching a spider catch flies on my window following a successful go live.

    I'm reading about someone who claims to be in his 30s and knows everything about everything.

    And I'm waiting to hear about one of the people on here who works for Hector sending him a PM.

    Leave a comment:


  • clearedforlanding
    replied
    Originally posted by WTFH View Post
    Your obsession with salaries and equivalent rates, your incorrect calculations that you've made many times, your failure at mathematics - you keep repeating yourself, doesn't make them right.

    People get into contracting for many reasons. It's not just about tax.
    No quite sure why you are still rising to his tulip WTFH.

    Leave a comment:


  • WTFH
    replied
    Originally posted by LondonPM1 View Post
    Yes indeed WTFH - Contractors become contractors because they want to volunteer their skills sets and "avoid the office politics".

    The fact that contractors take home pay is vastly improved (as laid out mathematically at the beginning of this thread which showed what a 100K salary would look like) and together with many threads on this site which used to talk about expenses, wife employment, optimal tax thresholds, BIK for cars and most interestingly people stung by loan charges is just a by product and a second order effect

    People who are contractors are not doing it for take home pay / tax reasons but simply because they like being flexible .

    Thank you for clearing this up - Its as clear as mud

    Every attempt to plan discuss / optimise tax is met with claims that it is tax evasion - Meanwhile contractors have stayed for years as disguised employees whilst people simply nod and play along going through the circus of IR35 interpretation

    Your obsession with salaries and equivalent rates, your incorrect calculations that you've made many times, your failure at mathematics - you keep repeating yourself, doesn't make them right.

    People get into contracting for many reasons. It's not just about tax.

    Leave a comment:


  • LondonPM1
    replied
    Originally posted by Old Greg View Post
    Job's a good 'un.
    The stage is all yours - Lets see you do the weather dance today to take your post count to infinity

    Leave a comment:


  • LondonPM1
    replied
    Originally posted by WTFH View Post
    Except it's another falsehood from him. He hasn't contributed anything to the forum, and as for his claim that ContractorUK is supposed to be a forum to explain how to carry out tax evasion, we're not.
    Yes indeed WTFH - Contractors become contractors because they want to volunteer their skills sets and "avoid the office politics".

    The fact that contractors take home pay is vastly improved (as laid out mathematically at the beginning of this thread which showed what a 100K salary would look like) and together with many threads on this site which used to talk about expenses, wife employment, optimal tax thresholds, BIK for cars and most interestingly people stung by loan charges is just a by product and a second order effect

    People who are contractors are not doing it for take home pay / tax reasons but simply because they like being flexible .

    Thank you for clearing this up - Its as clear as mud

    Every attempt to plan discuss / optimise tax is met with claims that it is tax evasion - Meanwhile contractors have stayed for years as disguised employees whilst people simply nod and play along going through the circus of IR35 interpretation

    Leave a comment:


  • WTFH
    replied
    Originally posted by Old Greg View Post
    Job's a good 'un.

    Except it's another falsehood from him. He hasn't contributed anything to the forum, and as for his claim that ContractorUK is supposed to be a forum to explain how to carry out tax evasion, we're not.

    Leave a comment:

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