Indian Visa Scheme and IR35

[Experienced Optimist]

Well last week was the first time I was put against an Indian offshore centre. Ultimately they got me to do a proposal so that they could provide an offer one week after me.

[DoctorStrangelove]

[Ketto]

Well, i don't really know what got me where I am, today,
but i'm here, so might as well get on wiv it.

What got me here was being the admin boy in a Finance department in the early 2000s after graduating, who saw how much the IT contractors were getting paid.

[edison]

it looks cheap in a consultancy spreadsheet, but it is not cheap if you include all the things such spreadsheets do not include

True. IMHO most big organisations don't have a very good grasp of the 'total cost of ownership' when it comes to IT as a whole or major systems/applications.

[edison]

CJ is a an all time classic comedy supporting character

[willendure]

I've done two gigs for private equity firms for companies in what is termed 'mid-market'. The PE companies invest a lot to grow the business. As opposed to the usual model of asset stripping, carve outs and rapid cost cutting.

...

The downside is since interest rates rose significantly, PE funds are under significant pressure to make sufficient returns. One recruiter I spoke to yesterday said they are demanding contractors "to do 120% of what they did before for 70% of the money."

My understanding is that PE do grow the value of businesses - after all they've just bought something and want it to be worth more and have some skills in doing precisely that. But more often than not the strategy is to invest in the business by taking on more debt, and cutting costs. Not necessarily a bad thing, if it increases the available capital and puts it to work, and makes the business more efficient.

The difficulty arises because the business is no longer publishing quarterly accounts and open to shareholder scrutiny in the same way that a public company is. PE would say that is a good thing, because it removes a distraction from pursuing longer term aims, again some truth in this. But the debt is no longer being marked to market and as you acknowledge this can mean problems are hidden from view, until they become too severe to ignore.

The mountain of PE debt is way way bigger than it has ever been. We might realistically classify all that debt as junk bonds or high yield. All good but when there is a recession and high yield rates balloon out its going to be one hell of a melt down.

[willendure]

What got me here was being the admin boy in a Finance department in the early 2000s after graduating, who saw how much the IT contractors were getting paid.

What got me here was contracting for an investment bank - someone accidentally sent an email with everyones rates in it - thought I was doing ok as a contractor until I saw I was very near the lowest rate in the table! Knew what I was really worth after that.

[sadkingbilly]

What got me here was contracting for an investment bank - someone accidentally sent an email with everyones rates in it - thought I was doing ok as a contractor until I saw I was very near the lowest rate in the table! Knew what I was really worth after that.

you knew what everyone Else was worth, you mean.

[rootsnall]

48. Then over time, as we strengthen UK training and workforce strategies for higher skilled occupations that have also been over-recruiting from abroad, this new approach will allow us to reduce net migration further while boosting productivity, strengthening the UK economy and supporting growth.

I've been reading the whitepaper, loads of waffle and well meaning words that we know means they will do sod all. They have even covered themselves with the use of 'then over time' as a way to not do anything meaningful and let the cheap labour keep on coming. The governments own analysis says immigration will drop by only 100,000 per year, surely they realise they'll get hammered at the next election if that is true.

[WTFH]

The governments own analysis says immigration will drop by only 100,000 per year, surely they realise they'll get hammered at the next election if that is true.

Well, this thread was about Indian visa and IR35, but anyway, the simple solution to what will happen in the next election is to ask the “limited company of the people” HOW they plan to do all the wonderful slogans they spout. The answer they will give is to change the topic, or repeat the slogan.