• 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!
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.

Previously on "State of the Market"

Collapse

  • dsc
    replied
    Originally posted by mattster View Post

    That's the problem - you really don't save much money at all with hybrid. I'm west sussex and commute from Hants to Waterloo (SWR so much more reliable than southern). Currently 4x month but they want 2x week and ultimately 3x week (started on 2x month nearly 2 years ago). I've already told them that I won't continue at 2x week simply because my inside rate doesn't stretch to it. Catching the train 2x week is marginally less than a full season, but can be reduced a bit further by pre-booking specific trains. Later arrivals at my office are already bound by 2x week and many of them buy 2 weekly seasons a month and work 4 days out of 7 spread over 2 weeks, which is fine if you don't have set team days etc.
    By design hybrid only really works if you live close(ish) to the office, the benefit being that on some days you can stay at home, but you can't move far away. To me it was always a "con" ie. if I have to go in twice a week, well then the logistics are almost like going in every day. And then of course if you are close enough to commute into the office, what's wrong with going in 2-3 times a week, or 4, or 5... you get the drift.

    Also the fact that the cost of using the train 40% of the working week being almost the same as full season is retarded as feck

    Leave a comment:


  • oliverson
    replied
    Originally posted by mattster View Post

    That's the problem - you really don't save much money at all with hybrid. I'm west sussex and commute from Hants to Waterloo (SWR so much more reliable than southern). Currently 4x month but they want 2x week and ultimately 3x week (started on 2x month nearly 2 years ago). I've already told them that I won't continue at 2x week simply because my inside rate doesn't stretch to it. Catching the train 2x week is marginally less than a full season, but can be reduced a bit further by pre-booking specific trains. Later arrivals at my office are already bound by 2x week and many of them buy 2 weekly seasons a month and work 4 days out of 7 spread over 2 weeks, which is fine if you don't have set team days etc.
    You've opened some old wounds going back 15 years or so to when I lived in West Sussex and used to do the commute in to London Bridge. I really don't miss any of that cr4p, though at least back then I was guaranteed a seat by purchasing 1st class tickets. I understand that is no longer the case and the space on the trains is even worse. At least the Gatwick Express 1st class was pretty civilised.

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by eek View Post
    Don’t forget you can also use any pension allowances you haven’t fully used over the past 3 years
    You'd never have known if you'd read this crappy article:

    https://www.contractoruk.com/news/00...f_forever.html

    Leave a comment:


  • eek
    replied
    Originally posted by eek View Post
    In other news - someone who knows the recruitment market is saying that Contract work is doing way better than permanent recruitment
    Originally posted by willendure View Post
    Yep. If I go inside I will be shoving the max into my SIPP. £60K until Labour take that away from us too. I guess back to £40K when that happens, but you never know they might find a way to make it even worse.
    Don’t forget you can also use any pension allowances you haven’t fully used over the past 3 years

    Leave a comment:


  • willendure
    replied
    Yep. If I go inside I will be shoving the max into my SIPP. £60K until Labour take that away from us too. I guess back to £40K when that happens, but you never know they might find a way to make it even worse.

    Leave a comment:


  • jamesbrown
    replied
    On the upside, that is also the amount you can save, initially, with a pension contribution (subsequently, depending on your retirement income).

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by Snooky View Post

    We already have this in England, do they not in Scotland? Or have I completely missed the point?
    The value of the allowance is greater as you become a higher and further rate tax payer, so the cost of losing it is greater in Scotland. For income between £100k and ~£125k, the effective rate is about 60% in the rUK and 63% in Scotland, IIRC.

    Leave a comment:


  • Snooky
    replied
    Originally posted by eek View Post


    Wait to you see the Scottish rate when you go above £100,000 next year and your personal allowance is clawed back
    We already have this in England, do they not in Scotland? Or have I completely missed the point?

    Leave a comment:


  • eek
    replied

    Originally posted by willendure View Post

    In my case, I think it is actually Scottish income tax bands that are making the difference (practically socialism up here!). You don't get hit by the scottish income tax bands on dividends, only on PAYE. Higher rate in Scotland is 42% and kicks in about £6.6K lower.
    Wait to you see the Scottish rate when you go above £100,000 next year and your personal allowance is clawed back
    Last edited by eek; Yesterday, 17:40.

    Leave a comment:


  • mattster
    replied
    Originally posted by SussexSeagull View Post

    I haven't had an Inside yet and obviously when I do - as sadly I am sure I will one day - it will depend on the daily rate but it has killed working away from home, although I could probably take a commute on the chin.

    Problem with commuting by train is going in twice a week isn't much cheaper than going in five days a week.
    That's the problem - you really don't save much money at all with hybrid. I'm west sussex and commute from Hants to Waterloo (SWR so much more reliable than southern). Currently 4x month but they want 2x week and ultimately 3x week (started on 2x month nearly 2 years ago). I've already told them that I won't continue at 2x week simply because my inside rate doesn't stretch to it. Catching the train 2x week is marginally less than a full season, but can be reduced a bit further by pre-booking specific trains. Later arrivals at my office are already bound by 2x week and many of them buy 2 weekly seasons a month and work 4 days out of 7 spread over 2 weeks, which is fine if you don't have set team days etc.

    Leave a comment:


  • Snooky
    replied
    Originally posted by willendure View Post
    The way I see it, going from contract to perm is like...

    "Hey, do you want to do this same job for half the money?"

    "Hmm, ehh, let me think about that for a minute..."

    "Oh come on, at least you get job security, you get to stay here forever!"

    "Ahhh, I'd rather stick pins in my eyes!!"
    Relevant Dilbert:

    Click image for larger version

Name:	1998-08-19-Wed.gif
Views:	0
Size:	135.5 KB
ID:	4285393

    Leave a comment:


  • willendure
    replied
    Originally posted by willendure View Post
    In my personal calculation I was working on an assumption of £1000/month pension contribution, and about £600 in expenses, and maybe around £100 in umbrella fees approximately. That all seems to put me at abour £200/month better off on the outside @ 450 case. Seems pretty shocking given that the gross earnings/month would be about $4K higher.
    In my case, I think it is actually Scottish income tax bands that are making the difference (practically socialism up here!). You don't get hit by the scottish income tax bands on dividends, only on PAYE. Higher rate in Scotland is 42% and kicks in about £6.6K lower.

    Leave a comment:


  • TheDude
    replied
    Manager has assured me he has renewed contract but not a word from agency.

    Last day the 5th March and if contract expires I will loses all access permissions which were incredibly tedious to acquire.

    Leave a comment:


  • SussexSeagull
    replied
    Originally posted by eek View Post

    remember I said without travel costs - as soon as an inside IR35 contract talks about actually visiting an office - the maths stops working unless the location is very nearby.

    When this was implemented (heck back when expenses rules were changed for umbrellas back in 2016) I pointed out that the end result was people would only be able to take local contracts if the contract was inside.

    other posters also pointed that out at the time as well
    I haven't had an Inside yet and obviously when I do - as sadly I am sure I will one day - it will depend on the daily rate but it has killed working away from home, although I could probably take a commute on the chin.

    Problem with commuting by train is going in twice a week isn't much cheaper than going in five days a week.

    Leave a comment:


  • eek
    replied
    Originally posted by willendure View Post

    To give a rough idea you could try this calculator.

    https://www.contractorcalculator.co....alculator.aspx

    That gave monthly £5,365 outside @ 450 and £6,148 inside @ 650, or a difference of £782 better on the inside one.

    In my personal calculation I was working on an assumption of £1000/month pension contribution, and about £600 in expenses, and maybe around £100 in umbrella fees approximately. That all seems to put me at abour £200/month better off on the outside @ 450 case. Seems pretty shocking given that the gross earnings/month would be about $4K higher.
    remember I said without travel costs - as soon as an inside IR35 contract talks about actually visiting an office - the maths stops working unless the location is very nearby.

    When this was implemented (heck back when expenses rules were changed for umbrellas back in 2016) I pointed out that the end result was people would only be able to take local contracts if the contract was inside.

    other posters also pointed that out at the time as well
    Last edited by eek; Yesterday, 10:20.

    Leave a comment:

Working...
X