- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: How much better off are we?
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "How much better off are we?"
Collapse
-
Exactly what shoes said. When I went back to an ex employer after a 14 year gap, I was asked to do work (and was respected for doing it) that the company specifically ruled me out of when I was a permie there. My rate was about 2.5 times what the grade was paying had I still been permie there, plus I had the freedom to come and go as I liked and never had to work loads of the unpaid overtime that was "expected" of an employee.
-
For me there's a large difference, I am one of those in a technical role who if perm would be on around the 35k mark. In my market I can get 350 to 400 a day. In a perm role I would be living basically hand to mouth each month. In a contract every month I invoice for makes me over twice the take home of the permie 35k one. To me that means for every month working I can take a month off and still not be worse off than I was as a permie.
I have none of the permie bull that other people have mentioned here and I take months off between contracts. I am also respected by those in the 'higher' positions at my client sites versus being looked on as a skivvy to talk down to if I were doing a similar role as a permie.
No comparison. I'll be living rough on the streets before I consider a permie role again. I feel really sorry for the poor permie saps in technical roles I meet at my client sites, they are all so unhappy. Not for me.
Leave a comment:
-
Originally posted by lambrini_socialist View Postthat's weird. judging from what i read on this board, i assumed that the UK must be the most highly taxed country in all of europe. don't tell me this isn't the case?
Switzerland for a start.
Actually Netherlands too, when you factor in the 30% rule: that means that the Dutch taxman lets you have 30% of your income tax-free (but then nothing is deductible). It doesn't mean that the UK taxman will do the same.Last edited by expat; 2 July 2008, 15:33.
Leave a comment:
-
Originally posted by Dow Jones View Post(snipped) I am not saying that you are not better off, all I am saying is that people should look at their personal circumstances and not try and jump on the bandwagon, especially now that it's showing signs of slowdown. Likely to see a lot of desperate contractors pleading for an ever diminishing pool of pertmie jobs.
Luckily, I think I have another 11 months ahead on this job.
Leave a comment:
-
Originally posted by lambrini_socialist View Postthat's weird. judging from what i read on this board, i assumed that the UK must be the most highly taxed country in all of europe. don't tell me this isn't the case?
Edit : This makes interesting reading if taxes are your thing.
World bank report on taxation globally
Uk Ranks 52nd out of 178 countries ( 1 being lowest overall tax burden, 178 being the highest). Our total tax burden is 37.5% by their calculations.Last edited by DaveB; 2 July 2008, 15:39.
Leave a comment:
-
Originally posted by expat View Postand the pleasure of paying taxes at UK rates or higher, wherever I work)
Leave a comment:
-
Originally posted by expat View PostNot me Jim, I turn 58 next summer and am beginning to hope that I will never have to work permie again.
Leave a comment:
-
Originally posted by TheBigYinJames View PostI always think this will be a an age-related decision for me - at some point I will just get fed up contracting. but it hasn't happened yet, but then I turn 40 next summer, so maybe I'll start thinking more about it.
Leave a comment:
-
Originally posted by Dow Jones View PostIf you've done all that and one day you are offered say anything between £ 50-60k plus to work locally then as I previously explained, you may no longer then be better off carrying on contracting.
Leave a comment:
-
My problem is that I can't seem to find contracts in the UK, so I'm off to Holland, Germany, or Switzerland every week. Family home remains UK, not about to change, it's just a given. So I have substantial commuting costs in time and money (and the pleasure of paying taxes at UK rates or higher, wherever I work).
I just worked out my net hourly rate after taxes and costs, including commute times. Ouch!
Leave a comment:
-
Never say Never
From what I've seen so far the most enthusiastic ones are those from previously so-called 'junior' permie roles earning around £ 30k or less. I can see the obvious financial benefits to them as well as the new 'glamorous' lifestyle (flashy cars/clothes/etc). If you've done all that and one day you are offered say anything between £ 50-60k plus to work locally then as I previously explained, you may no longer then be better off carrying on contracting. Again for the new entrants, when you calculate your earnings, you work out over 45 weeks p/a x anything between 70-80% over the years (allowing for the rest 20-30% is bench time, enforced or not). I am not saying that you are not better off, all I am saying is that people should look at their personal circumstances and not try and jump on the bandwagon, especially now that it's showing signs of slowdown. Likely to see a lot of desperate contractors pleading for an ever diminishing pool of pertmie jobs.Last edited by Dow Jones; 2 July 2008, 13:40.
Leave a comment:
-
In my line of work permie rates are effectively capped at about ~£48k a year. If I was still in my last permie job (5 years ago) my salary would be about £38k a year. My day rate is £400 and I work (I hope!) 44 weeks a year. I put a grand a month into a SIPP and I reckon I am still about a grand ahead of what I would be taking home now from my last permie job. The actual work I do if fairly similar, just a lot more short term jobs. I like what I do and I would hate to return to permi-dom. That's worth a few bob to me too
Leave a comment:
-
Exactly, not doing performance reviews every 6 months or so is worth a couple of grand to me.
Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: