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Isn't the difference here though that - as a contractor - there will always be something in the back of your mind thinking about where your next contract is coming from? As opposed to a permie who has taken a sabbatical for example, but plans to return to their job.
Seems like a bit of a sweeping generalisation - what about those operating within IR35? Or those only contracting short term? Ease of management, don't want the stress of running a Ltd Co and having the associated legal responsibilities?
I thought the rule was once you KNOW it's going to take you to 24 months, so surely only if he accepted that hypothetical extension (assuming it was 2 months+)?
I'd like to think I've been relatively sensible until now, divorce was amicable and I've made a decent dent in my mortgage. I kinda wish I'd looked to go contracting sooner, but then again I've been building up nearly 9 years of experience in IT. Ideally I'd like to use contracting to get my...
For me @ 28 this is a pretty scary question, as it seems likely a lot of 'generation y' will be working till we drop. This is why I started looking into contracting in the first place, one of the biggest appeals being able to have T̶o̶n̶s̶ ̶o̶f̶ ̶e̶x̶t̶r̶a̶ ̶c̶a̶s̶h̶ ̶t̶o̶ ̶p̶1̶s̶s̶ ̶u̶p̶...
This is probably worth a read....
http://forums.contractoruk.com/accounting-legal/95689-24-month-rule-nutshell.html
But:
Are you operating via a Ltd Co or an Umbrella?
If the later then you will be unable to claim expenses from April.
If the former and you are outside IR35, you can claim...