Are IT Contractors Paid Too Much

[Pondlife]

Look it up.

Benefits - NATS Air Traffic Controllers Careers


91K as a max potential salary. Not to mention the pressure.

[DeludedAussie]

Benefits - NATS Air Traffic Controllers Careers


91K as a max potential salary. Not to mention the pressure.

Exactly - And no LTD tax shelter either. Sometimes people forget just how lucky they are

[DeludedAussie]

You being a pain in the arse, joey.

You are a clown Clippy

Admin : Please do the needful and ban clippy - And cut his dinosaur tail off on the way out

[mod] Oh go on then, since you asked so nicely. [/mod]

[MarillionFan]

Benefits - NATS Air Traffic Controllers Careers


91K as a max potential salary. Not to mention the pressure.

So Air Traffic control is in the top 10 careers in the UK.

Number 1 is CEO/Director of a LTD company. Effectively Air Traffic Control pays more than it's IT Equivalent.

Where DA is talking bollocks is, he is getting confused between 'IT Contractor' and 'Director of a LTD Company'. Plenty of plumbers, builders, electricians who operate as self employed will be making a mint as well.

The OP's question is incorrect. His £600 per day rate (160k) per year quote refers to that of the LTD company, not his salary. He is clearly confused between permanent, self employed and company director.

The correct question should be 'Are Company Directors overpaid?'

[gingerjedi]

Footballers yes - But Air Traffic Controllers earning 160K and able to regulate their income using a LTD

Honestly I do nt think you mean this

What percentage of contractors do you think earn 160k? You'd need to land a top rate and keep off the bench for a full 12 months.

'Contractors' is also a catch all, 95% of techie contractors are probably on no more than £300 per day, and most of them on sub £200. Personally I've earned £600 in total as a contractor in 2010.

So no, I don't think contractors earn too much.

[DeludedAussie]

So Air Traffic control is in the top 10 careers in the UK.

Number 1 is CEO/Director of a LTD company. Effectively Air Traffic Control pays more than it's IT Equivalent.

Where DA is talking bollocks is, he is getting confused between 'IT Contractor' and 'Director of a LTD Company'. Plenty of plumbers, builders, electricians who operate as self employed will be making a mint as well.

The OP's question is incorrect. His £600 per day rate (160k) per year quote refers to that of the LTD company, not his salary. He is clearly confused between permanent, self employed and company director.

The correct question should be 'Are Company Directors overpaid?'

No i m not confused at all - Like you i know that one man band IT contracting at one 'client' is a tax sham

You really are not going to argue with a straight face its not

[DeludedAussie]

What percentage of contractors do you think earn 160k? You'd need to land a top rate and keep off the bench for a full 12 months.

'Contractors' is also a catch all, 95% of techie contractors are probably on no more than £300 per day, and most of them on sub £200. Personally I've earned £600 in total as a contractor in 2010.

So no, I don't think contractors earn too much.

Maybe I ve been disillusioned by working in finance but I am seeing LOTS of contracts in London for >550 for basic skills like SQL, VBA blah blah

I ve been contracting now for 18 months solid with not one day holiday and working some weekends as well

My peer group are doing the same - So holding a 12Month contract is really not that difficult

[DeludedAussie]

So Air Traffic control is in the top 10 careers in the UK.

Number 1 is CEO/Director of a LTD company. Effectively Air Traffic Control pays more than it's IT Equivalent.

Where DA is talking bollocks is, he is getting confused between 'IT Contractor' and 'Director of a LTD Company'. Plenty of plumbers, builders, electricians who operate as self employed will be making a mint as well.

The OP's question is incorrect. His £600 per day rate (160k) per year quote refers to that of the LTD company, not his salary. He is clearly confused between permanent, self employed and company director.

The correct question should be 'Are Company Directors overpaid?'

The difference between plumber and electrician is they will see 20 clients a day and they really have no gurantee of work

IT contracting is at one client for years and every day you have a solid 10 hour job

[MarillionFan]

No i m not confused at all - Like you i know that one man band IT contracting at one 'client' is a tax sham

You really are not going to argue with a straight face its not

Why is it a tax scam?

As a contractor, some contracts are short, some long. You find yourself benched, you may find yourself with more than one client, you don't get paid sick, you don't get holiday, you don't get benefits, you don't get paid training, you don't get pension benefits.

It is a misnomer, that a 160K LTD turnover is the norm. It isn't. Polls on this very site show it. Contractors should get additional tax benefits, it allows for a flexible working population with dynamic skilled individuals able to plug gaps. That risk taking mentality should be rewarded. LTD companies and existing legislation allow us to be rewarded. Not as much as before, but IR35 scares the bejesus out of most and has reset contracting to a dynamic few as opposed to the risk avoidance gravy train it had become.

So straight faced, it's not. Your wrong.

Oh and btw, if you don't already know. Don't try and troll me again it's a one way street to a master class.
HTH

MF

[MarillionFan]

Maybe I ve been disillusioned by working in finance but I am seeing LOTS of contracts in London for >550 for basic skills like SQL, VBA blah blah

I ve been contracting now for 18 months solid with not one day holiday and working some weekends as well

My peer group are doing the same - So holding a 12Month contract is really not that difficult

And so you will be within IR35. So you're take home should be less than half. If you're avoiding using a brolly or LTD, you have already broken the first rule and you're definitely up for an Inland revenue pull.