New to contracting at 57?

[Protagoras]

And you do realise that this gambit will put you securely inside IR35?

It's almost as if the rules were designed for older workers
- top up pension via brolly 'employer'
- no training, certification renewals etc
- staff limits on holidays removed

If you want to go contracting then why stay with the company you want to leave?

The obvious reason is timing. It's harder to get the timing right leaving pemiedom for freelance given notice periods.
That said, in the context of an older worker without niche skills, given the current economic climate does it really make sense to take the risk of freelance unless pushed?

[northernladuk]

The obvious reason is timing. It's harder to get the timing right leaving pemiedom for freelance given notice periods.
That said, in the context of an older worker without niche skills, given the current economic climate does it really make sense to take the risk of freelance unless pushed?

Correct but it also gives a false sense of security. That person still hasn't been tested out in the wild. They fall in to a cushy contracting gig with their ex employer and then when that ends they hit reality very hard. No income, no idea how to be a business, inflated ego thinking they are a contractor and in the eyes of new clients still hasn't cut their teeth. The 'contractor' is living the life without actually testing their skills in the market. Easy intro re notice periods but not real contracting.

That bottom line nails it for me.

[SueEllen]

And you do realise that this gambit will put you securely inside IR35?

If you want to go contracting then why stay with the company you want to leave?

Lots of companies have policies that you have to have 3+ months up to a couple of years break before you can go back to them as a contractor/freelancer.

As not only are you within IR35 but you are in a false job loss/redundancy situation, and if they use other contractors/freelancers they don't want HMRC sniffing around.

[TheDude]

Correct but it also gives a false sense of security. That person still hasn't been tested out in the wild. They fall in to a cushy contracting gig with their ex employer and then when that ends they hit reality very hard.

I have seen so many interview candidates who have worked with one codebase for a long time struggle in interviews.

[lukemg]

Don't know about your skillset but market seems hotter than I have ever known (everyone seems to have jacked it in) - PM/Service stuff. As discussed above, most people can score one contract but can you get the next one ? You will know your own personality traits, which will matter a lot.
I would say go for it, worst that happens is you have to consider another perm job (you have already bailed from current job...ish)

[northernladuk]

Don't know about your skillset but market seems hotter than I have ever known (everyone seems to have jacked it in) - PM/Service stuff. As discussed above, most people can score one contract but can you get the next one ? You will know your own personality traits, which will matter a lot.
I would say go for it, worst that happens is you have to consider another perm job (you have already bailed from current job...ish)

From his initial post

My skill sets are in Python, SQL, databases, Tableau and project management but a bit of a jack of all trades rather than a master of one.

[Fraidycat]

on a decent salary/bonus

If you are on a decent salary/bonus, why go contracting? just stick it out for another 8 years then retire.

Python developer, but not expert, coding interviews are harder these days, live coding tests over video while they watch you code.

Then there is the possibility of an economic slowdown, interest rates are going to slow the economy over the next 18 months i reckon.. not a good time to jump into contracting, best time is when everything is booming on all cylinders..

[CoolCat]

depends what you want to do, as well

I intentionally take long gaps between gigs, I think the extra time off is one of the perks of freelance lifestyle

So not being in gigs constantly is no fear for me

I dont see the point of going freelance if you want to work for one employer full time long term, the tax benefits are not what they used to be to make that worth the bother

[jmo21]

I really dislike the corporate BS and been planning on quitting next month with the aim to contract for the rest of my career (57 soon).

I mean you can't dislike it that much!

For many contractors that is one of the many reasons (my number 1 reason, alongside the money tbh)

Is that the only reason? Why now? Why have you waited? Has something changed that you suddenly need more money? Getting divorced? Realised you haven't paid much into pensions and you want to catch up? Or maybe your mortgage is paid off, and now the shackles of that make you feel free to take a risk?

No judgement, or ageism honest, just seems unusual to want to do it now after working the vast majority of a normal working career as a permie.

I think others have covered the many reasons why it might be a challenge, especially being lulled into a false sense of security about contracting by doing 6 months with your current employer.

[Hairlocks]

depends what you want to do, as well

I intentionally take long gaps between gigs, I think the extra time off is one of the perks of freelance lifestyle

So not being in gigs constantly is no fear for me

I dont see the point of going freelance if you want to work for one employer full time long term, the tax benefits are not what they used to be to make that worth the bother

How big a gap do you take between gigs?

I have built up a sizeable warchest over a few years of contracting and I am now planning to only work 6 months of a year. Just wondering how clients would view the constant gaps in the future. The first few contracts I was always worried if I would be able to find the next one, but I have done quite a few now, so that worry has finally gone (The warchest helps as well.)