Reply to: Financial Service contracts

[stek]

Saw some lass twatted by a bus on Amiens Street yesterday, three ambulances and a fire engine turned up.

Was nearly late for work..

[SueEllen]

If you saw some of the people I see on local bike rides you have nothing to fear.

And they make lycra cycling gear to fit all types of bodies though the standard ranges only fit you if you can fit into cabin crew sizes.

[ladymuck]

LadyMuck cycling in lycra.

LOL

[ladymuck]

??? If I personally incur an expense, I claim it back from MyCo.

How do you manage mileage?

I see it more as a mentality thing. To me, "claiming back" is akin to "free money off the boss" when in permie land as most permies fiddle their expenses (after 9 years in accounts, and cutting my teeth on employee expenses I saw a lot before I went freelance).

In contractor land, everything comes out of the same pot and the only difference is the journal entry and tax treatment. Mileage (like any personally incurred expense on behalf of the business) is just a journal entry.

[PTP]

I am a total noob and have never done contracting before but I am thinking of getting into it. I have read up a bit on IR35 but I was wondering if anyone knows if these complaint handling contracts for Banks advertised through the likes of Momenta, Huntswood etc fall in or out of it?

Reason I ask is I have applied for a role and i'd need to commute 2 hours on the train to get to the location. The other option is to stay there in the week and come back at weekend. Would I be able to claim back any expenses like travel or accommodation?

As you should know, in that industry they set you a number of cases as your SLA. Years and years ago I seem to remember the contract said that if you don't meet your SLA then your fee is reduced proportionately (and I've heard rumours they've done that), which is helpful for getting outside IR35. Just make sure you know what the SLA is.

Are you sure the money is worth a 2 hour commute or setting up a Ltd for instead of brolly? Usually Huntswood/Momenta complaint gigs pay £125 - £225/day
Make sure you try out one of the take home pay calculators

[kaiser78]

LadyMuck cycling in lycra.

LOL

I just remembered this thread wasn't in General.

[northernladyuk]

Well there you go. MyCo picks up all business-related expenses, I can't remember incurring a personal expense on its behalf.

How do you manage mileage?

[malvolio]

??? If I personally incur an expense, I claim it back from MyCo.

Well there you go. MyCo picks up all business-related expenses, I can't remember incurring a personal expense on its behalf.

[SueEllen]

Agreed. City has so many more options.

I cycle. 8 miles to wharf, 12 to the city. I prefer cycling to the city....

LadyMuck cycling in lycra.

LOL

[BrilloPad]

depends if it's in the city or the wharf, city isn't TOO bad.
for me, anyway

Agreed. City has so many more options.

I cycle. 8 miles to wharf, 12 to the city. I prefer cycling to the city....

[BR14]

Biggest issue with financial services(or other London) gigs is the commuting.

Think very carefully.

depends if it's in the city or the wharf, city isn't TOO bad.
for me, anyway

[northernladyuk]

Agreed. Claim back is permie speak

??? If I personally incur an expense, I claim it back from MyCo.

[SueEllen]

The place or the commute?

I just remembered this thread wasn't in General.

[BrilloPad]

Yeah. I live in W8 and it's awful.

The place or the commute?

[ladymuck]

Biggest issue with financial services(or other London) gigs is the commuting.

Think very carefully.

Yeah. I live in W8 and it's awful.