Results of the public sector consultation is up

[youngguy]

I'm pretty flabbergasted by some people's attitude TBH. Join unions? Reporting losses? You are contractors for ****s sake. PS roles are just another gig. You just go find another one or take it if it gets you off the benche/training/logistics. It's only short term and you are back a proper gig.

It's not good don't get me wrong but why are some people acting like its the end of their contracting career?

This is a fair point.

It is not fair and no one likes to pay more , but I am slowly resigning myself to the fact that contracting won't be as lucrative as it was (assuming in a few yrs this is in the private sector as well).

Classic kubler Ross curve 🙂, but I'm not ready to stop moaning yet

[youngguy]

You don't, you report a loss for the year and carry it forward to offset against profits the next year and reduce your corporation tax bill.

How does corp tax work if you have already paid taxes and received net funds each month?

[SueEllen]

How does corp tax work if you have already paid taxes and received net funds each month?

You pay £0.00

[youngguy]

Some people's arrogance on this site must put many contractors off from contributing. I've had enough after 24 hours.

Oh, and thousands of posts on an IT message board doesn't make you very special, in fact, quite the opposite.

You soon grow a thick skin around here. In general everyone is ok and even the slightly curt ones do have good points under their gruffness. Just remember , it's a forum so take it all in good jest.

All about the tough love around here

[eek]

I'm pretty flabbergasted by some people's attitude TBH. Join unions? Reporting losses? You are contractors for ****s sake. PS roles are just another gig. You just go find another one or take it if it gets you off the benche/training/logistics. It's only short term and you are back a proper gig.

It's not good don't get me wrong but why are some people acting like its the end of their contracting career?

Remember my attitude is not I'm going to claim those rights its more this is what's going to happen. I think my plan to get out of contracting and move towards a consultancy and expand from there has been clear for a very long time.

The only reason me and SueEllen are talking about unions is because they are going to be used and even without the uber ruling given what the draft law criteria is I think they are going to win....

As for it being the end of a contracting career, its definitely going to change the whole market for a while and that may be enough to encourage people to go elsewhere.

[LondonManc]

I don't know to be honest LondonManc. In the short term, I would cover business expenses from retained profits, and in the longer term switch to umbrella I guess. I would have to give up my Office for starters.

A Perm - a permanent role is always on the cards in the Construction industry, but the old 1% rule applies (£650/day or £65k/year) so it would a big hit on my income/savings potential/retirement plan.

I am optimistically hoping that the Private Sector will prove to be more resilient. There are already staff shortages in my sector and Clients might adapt to the changes.

I work along side several Contractor's both to the Client and the Clients-Client who is a PS body, and most haven't got a clue about the forthcoming changes. The level of ignorance is shocking. Offshore loan schemes, blind faith in the accountant, branded Ltd Company mugs, contracts no more than 2yrs, not a clue. Anecdotal rumours about the old guy in the corner who has done his one contract role for 25yrs. Brexit benefits. I liken it to the old wives tale about not getting pregnant if you F**k standing up.

Even on these forums, the amount of posters asking basic questions because they haven't read the guidance notes or the consultation papers.

I am still in favour of throwing 90% under the bus, let HMRC think it has won, and create some breathing space for the real freelancers.

Unfortunately there are many where I work who are blissfully unaware too. Most of them do roles that are classic permietractor roles though, where the skills aren't specialist by any stretch.

Everything else you've posted is good stuff, too. Even if you are private sector, you have to keep an eye on each budget statement to see what happens and we're getting hammered at every turn. The problem is that we're in the top 5% of earners so we're easy pickings because Joe Public won't care that we have to pay more tax but don't get the full story about the complete lack of benefits and all the other financial risks that we take.

[youngguy]

Isn't that x days time element covered by the online seminar on Friday lunchtime?
.

Fair.
I missed that but Mal pointed it out. I went onto the forums which seemed quiet

[eek]

Fair.
I missed that but Mal pointed it out. I went onto the forums which seemed quiet

I think their forums are fairly dead simply because there are few people there to carry a conversation - it's probably some board members, some cc members, me and Mal....

[youngguy]

You pay £0.00

I thought that was the case looking at those silly flow charts!

[MPwannadecentincome]

Fine, then the MD is outside IR35. But all his minions are. I sit next to them ! So by fairness those portions of the KPMG bill should be taxed under Paye.

If those minions are employees they are already on PAYE so IR35 doesn't apply and they have had full NI and tax deducted.