Reply to: Start contracting now or later?

[Lance]

NEVER does not equal CAN BE

It's worth the rest of the day you are currently working. The rest is a bonus.

I can't agree with that.
CAN BE does not equal WILL BE.

A gambling man would say that it's worth more than 0 days from now, but less than 6 months. In a business valuation it would count as an intangible asset worth somewhere between nothing and 6 months.
So whilst it would not be true to say it's worth 6 months (I'll grant you that), it's not worth zero either. You know this to be true but cannot resist repeating the same trope

[northernladuk]

I've NEVER been removed from contract early.

NEVER does not equal CAN BE

I reckon it's worth 6 months, plus a possibility of future business.

It's worth the rest of the day you are currently working. The rest is a bonus.

[Lance]

But you know what that's worth though don't you.

I've NEVER been removed from contract early.
I reckon it's worth 6 months, plus a possibility of future business.

[northernladuk]

It's why I signed up for a 6 monther recently.

But you know what that's worth though don't you.

[Lance]

As has been the case nearly every year in the last 5 or 6 at least really.

I didn't mean the new tax year. I was referring to Brexit (am I gonna get banned now?). A drop of 15% in sterling and the loss of investment, and the follow on job losses may make contracting more challenging. It's why I signed up for a 6 monther recently.

[northernladuk]

April 2019 is likely to have greater risks and more unknowns that a legislative change not yet made.

As has been the case nearly every year in the last 5 or 6 at least really.

[Lance]

That's fair enough. Personally, I think there are too many unknowns with 2020 pending; what will rates look like, will it affect the market, etc.

April 2019 is likely to have greater risks and more unknowns that a legislative change not yet made.

[Snarf]

“We”? Who?

Certainly I’m not and all of the comfortably outside IR35 contractors I know are not planning an exit.

I guess bum on seat contractors just doing a job description are planning an exit as they can no longer falsely declare themselves inside? Good luck with that.

Exactly.. even inside IR35 my take-home would be higher than the average salary I'd get in my area.

No plans to pack up for the foreseeable, though as other have said money isn't the only reason to start contracting...

[northernladuk]

That's fair enough. Personally, I think there are too many unknowns with 2020 pending; what will rates look like, will it affect the market, etc.

He who dares Rodders.

[heyya99]

I wouldn’t not switch because of IR35 reform in the private sector.

IMO there are many more important factors to consider with regard to switching. Mostly related to personal circumstances and desires.

That's fair enough. Personally, I think there are too many unknowns with 2020 pending; what will rates look like, will it affect the market, etc.

[MrButton]

Knowing what you know now, you would switch from a perm job to contracting today?

I wouldn’t not switch because of IR35 reform in the private sector.

IMO there are many more important factors to consider with regard to switching. Mostly related to personal circumstances and desires.

[Lance]

Knowing what you know now, you would switch from a perm job to contracting today?

I would.

[heyya99]

“We”? Who?

Certainly I’m not and all of the comfortably outside IR35 contractors I know are not planning an exit.

I guess bum on seat contractors just doing a job description are planning an exit as they can no longer falsely declare themselves inside? Good luck with that.

Knowing what you know now, you would switch from a perm job to contracting today?

[gables]

I must admit to not being part of your 'All' either.

I started contracting in the year IR35 was introduced back in 2000. And since then there have been multitudinous rumours and thoughts as to how to position yourself to remain outside. For my part, this (the Private Sector element) is business as usual and come 2020, even if it does happen, I will hopefully be in a resultant financial position of no change.

As I, and maybe anyone Can, see it as of Jan 2019, you will have to ensure you are in a project environment as opposed to a support environment and, if the clients can be educated in the meantime, we carry on.

And anyway, anyone starting contracting at this time only knows this as the baseline environment, IR35-wise. They won't have experienced the 19 years of comparatively relaxed IR35 ruling in the same way prior to 2000, I had never experienced a contracting world without IR35 altogether.

I would always recommend, to the right person, contracting as a way to go.

Agreed. I'm not part of the 'All' either. I started contracting in 1993 so experienced contracting without the spectre of IR35. Since I restarted contracting in 2015 I have worked both outside and inside (current) IR35. A contract inside IR35 is not a deal breaker, but then for me contracting is not all the money.

To NOT go contracting because of IR35 is missing the point of what contracting is all about.

[simes]

Eh? Surely you people should be advising any newcomers against it. We are all planning our exit in advance of April 2020, to enter now before we get more clarity would be folly.

I must admit to not being part of your 'All' either.

I started contracting in the year IR35 was introduced back in 2000. And since then there have been multitudinous rumours and thoughts as to how to position yourself to remain outside. For my part, this (the Private Sector element) is business as usual and come 2020, even if it does happen, I will hopefully be in a resultant financial position of no change.

As I, and maybe anyone Can, see it as of Jan 2019, you will have to ensure you are in a project environment as opposed to a support environment and, if the clients can be educated in the meantime, we carry on.

And anyway, anyone starting contracting at this time only knows this as the baseline environment, IR35-wise. They won't have experienced the 19 years of comparatively relaxed IR35 ruling in the same way prior to 2000, I had never experienced a contracting world without IR35 altogether.

I would always recommend, to the right person, contracting as a way to go.