Reply to: Left permie position for contract but still not signed - mistake?

[SueEllen]

If you're using a ltd co and are using one of the 'contractor' accountants, they my well have a specialist who will do this as part of the 'service'. I'm with SJD and they do.

So I guess you get your accountant to do your property conveyancing?

While an accountant understands contract and tax law it's best to use the right specialist for the job particularly if you ever find yourself needing legal comeback.

[northernladuk]

They may do but it's a side business so will be selling knowledge they have at that point rather than specialising in this area so on that basis I'd be out.

[NigelJK]

QDOS, Roger at Egos, Bauer and Cottrell or Abbey Tax

If you're using a ltd co and are using one of the 'contractor' accountants, they my well have a specialist who will do this as part of the 'service'. I'm with SJD and they do.

[gables]

Normally good advice... but given he is clearly in financial need of this contract happening I wonder if he is just best getting it signed and getting on with it rather than arguing over IR35 friendly clauses which may or may not make the gig go away....

Yup, if it was me I'd be doing everything to make it happen to get on site and working. I'd pay attention in the contract to payment details so I'd know when money is due in.

[dx4100]

First you get it reviewed by QDOS, Roger at Egos, Bauer and Cottrell or Abbey Tax. (Google for their details.)

You have to pay money for this and the cheapest isn't the best.

Then come back here when you've had it reviewed.

Normally good advice... but given he is clearly in financial need of this contract happening I wonder if he is just best getting it signed and getting on with it rather than arguing over IR35 friendly clauses which may or may not make the gig go away....

[DallasDad]

Sue Ellen means reviewed predominantly for being inside or outside IR35.
If you are going to use a brolly then it does not matter (too much yet) from an IR35 perspective as you will be paying full PAYE anyway but it would pay you to get it reviewed now, whilst working your notice before you sign it if you are going to go ltd eventually.

I assume you will be using a Brolly because you said above:
"I'm committed to trying contracting."
That is not positive enough to sound like you are ready to set your own ltd up yet.

The contract may well have clauses relating to 'opting in or out' there is an extensive thread on the forum to help you make an informed choice. Go and read and digest it.

Be aware Brollies also like to 'persuade' people to opt out as well and my ex brolly had all sorts of BS reasons to hide why they really wanted me to opt out so pay attention to the T&Cs

[SueEllen]

OK so I've received a contract! Should I expect it to be signed on the agent's part too or is it enough to just sign it and send it over? Sorry if these are basic questions I'm new to all this and googling turns up contradictory advice.

First you get it reviewed by QDOS, Roger at Egos, Bauer and Cottrell or Abbey Tax. (Google for their details.)

You have to pay money for this and the cheapest isn't the best.

Then come back here when you've had it reviewed.

[gejjaxxita]

OK so I've received a contract! Should I expect it to be signed on the agent's part too or is it enough to just sign it and send it over? Sorry if these are basic questions I'm new to all this and googling turns up contradictory advice.

[booglebops]

Start applying for other jobs in case the agent is playing games. If you don't have a chest of money to support you then you need to move quick in either getting this contract, finding a new one or begging your employer to let you stay on

This is good advice.

Do not under any circumstance trust an agent. He will just place whoever smells best of money, which at the moment isn't you.
Either you have that contract signed or you have nothing. Even a signed contract is of little security.

Start applying for other positions now - your current employer will be expecting you to leave sooner or later even if you ask to stay.

[northernladuk]

You think this is stressfull. Wait until you are trying to get your second gig with zero money coming in and nothing to fall back on. The first one is easy.

[SueEllen]

The keyword for you is Warchest!

You need to build up some reserves so when you go through periods of no clients you can sit at home and watch tulip on TV without worrying about it.

Ideally you would of done this before choosing to go contracting.

Make sure you save as much as you can from this first gig and set yourself up to keep contracting going forward. You want to get together at least 6 months worth of money to live off.

Good luck. If they have taken references then you probably have nothing to worry about.

The bit highlighted is very important. You need to try and spend less than what you were spending when you were permanent until you have a warchest.

Then once you do have a warchest start looking at investments for when you retire and start paying into them.

Only after you have both of these sorted can you relax but don't go mad. There are contractors who find themselves out of work for a year. This can either be due to poor market conditions - read this thread here for an illustration - or due to personal circumstances as if your mother, father, child or yourself comes down with a bad illness you need to be able to afford time off.

[dogzilla]

I guess it depends on the sector but try and make the recruiters understand that you are in demand. That way they will rush to get the contract out and signed. I always tell agents I've got stuff on the go. Makes them work harder.

And by the way, no contract is enforceable until you turn up on site.... I have heard of companies throwing out contracts and then binning them because someone better came along.

[dx4100]

That's good to know thanks - it is a large agency. I think as I've not done contracting before I'm feeling pretty stressed about it!

The keyword for you is Warchest!

You need to build up some reserves so when you go through periods of no clients you can sit at home and watch tulip on TV without worrying about it.

Ideally you would of done this before choosing to go contracting.

Make sure you save as much as you can from this first gig and set yourself up to keep contracting going forward. You want to get together at least 6 months worth of money to live off.

Good luck. If they have taken references then you probably have nothing to worry about.

[gejjaxxita]

Don't panic, many of the large agencies (Hays) do the reference thing along with ID checks before/during/after, its probably ok, if the agency is a Fred in a Shed be wary of sending references before seeing the contract.

That's good to know thanks - it is a large agency. I think as I've not done contracting before I'm feeling pretty stressed about it!

[Support Monkey]

They've already contacted one of my colleagues for the reference - is it not normal to send the contract through before references? Should I get back in touch with the recruiter?

Don't panic, many of the large agencies (Hays) do the reference thing along with ID checks before/during/after, its probably ok, if the agency is a Fred in a Shed be wary of sending references before seeing the contract.