Reply to: How did you do this year?

[Amanensia]

I billed as usual until the end of the 2019/20 tax year, having started a new contract in mid January. Then I moved on to a FTC as a result of the client, after various changes of mind, binning all LtdCo contractors. Luckily as several of us were working on a regulatory-critical project they put us all on salaries that had been calculated to give us the same take-home pay as we'd have earned under a LtdCo even after taking into account travel and accommodation. Then of course I've not had to be in the office at all since moving to FTC as a result of Covid, so I'm not having to shell out for all those expenses anyway.

All in all 2020 ended up being my best year since 2015. 2021 should, touch wood, continue in the same vein.

[d000hg]

Exactly that. I'd finished up with one client just as the world started going mad so thought I'd take the holiday. In the end I got a contract soon after and worked through to the end of the year.

Never a bad idea to cut before you really have to! I was imagining a nightmare scenario where I got no work all year (or, years) and wishing I'd been able to keep back mortgage payment * 12.

Totally agree. In fact I did the same; I was in a contract but had no idea what their clients might do and as virtually the only contractor in an established team of be the first one out. Plus my wife just launched a business start of 2020 which was looking very sketchy for a while!

As it transpired I ended up with more work but the sight peace of mind was worth it.

mi fone did this on tappy tawk

[Lance]

I couldn't believe it when I realised I earned more in 2020 than in 2019.

In both 2019 and '20 I managed to work for only around 8 months a year, but in 2020 my rate was higher and April onwards no hotel costs or train fares.

On the downside, totally dysfunctional projects and clients in 2020, half the time not knowing what the hell I'm doing.

(Detractors might say I've never had the slightest idea what the hell I'm doing)

at least it wasn't all the time.
Did the client notice though? You only have to be one page ahead of them and you're brilliant.

[OneManBand]

I couldn't believe it when I realised I earned more in 2020 than in 2019.

In both 2019 and '20 I managed to work for only around 8 months a year, but in 2020 my rate was higher and April onwards no hotel costs or train fares.

On the downside, totally dysfunctional projects and clients in 2020, half the time not knowing what the hell I'm doing.

(Detractors might say I've never had the slightest idea what the hell I'm doing)

[PerfectStorm]

Why take a mortgage holiday if you were raking in the dough? Was your work in doubt early on and you figured better to play things safe?

Exactly that. I'd finished up with one client just as the world started going mad so thought I'd take the holiday. In the end I got a contract soon after and worked through to the end of the year.

Never a bad idea to cut before you really have to! I was imagining a nightmare scenario where I got no work all year (or, years) and wishing I'd been able to keep back mortgage payment * 12.

[dx4100]

Managed to invoice up until July and then the contract ended...

Summer out and then started work on a start up from October - Perm role and I should be getting shares soon.

Overall a successful 2020 but had to ditch contracting to make it that way.

Not sure what 2021 brings. Might end up being the total reverse if the start up runs out of money in June

[d000hg]

Brilliantly

Nonstop work across clients with no gaps, work into 2021.
A mortgage holiday for a bit
No travel expenses
Good rates
Not having to sit with difficult clients

2020 has turned out to be quite the boom year for MyCo which just goes to show that you never can tell.

Why take a mortgage holiday if you were raking in the dough? Was your work in doubt early on and you figured better to play things safe?

[Paralytic]

so you're one of those people who kept traveling about for non essential reasons throughout the whole year not giving a f**k about the government's guidelines. Nice one...

If you're wanting to have a dig at the poster, an easier option would have been to point out the potential for an Inside IR35 determination come April, risking 2+ years of back-tax being chased should it come to HMRC's attention.

Given that discussions have already taken place about a switch to perm, I suspect the client (and agent) already knows...

[Lance]

so you're one of those people who kept traveling about for non essential reasons throughout the whole year not giving a f**k about the government's guidelines. Nice one...

I'd say they did follow the government guidelines. Anyway this is a professional forum so wind yer neck in.

[PCTNN]

What went well:
Started off 2020 with a bang with a holiday in Moscow / St. Petersburg over the xmas /nye period to see my Russian girlfriend whom I met at a music festival in summer 2019. She then came over to visit in March, ostensibly for a 10 day visit. I proposed to her on her 3rd day here and she said yes, happy days She then got locked down with me until August due to flight suspensions back to Russia, so that was a lot of unanticipated fun and a great road test of life living together. Summer holiday in Turkey with her before she headed back to Russia. Celebrated my 50th birthday with her in Moscow in November. Got married to in Cappadocia, Turkey at the end of December.

so you're one of those people who kept traveling about for non essential reasons throughout the whole year not giving a f**k about the government's guidelines. Nice one...

[ladymuck]

Congrats on the wedding, boo to the sciatica and hope the op goes well.

[mirageman]

How did you do this year?
Contract with client (hedge fund) as an angular / java developer renewed on best day rate ever, in my longest contract ever, coming up on 2 years now. Enjoyable work with a good bunch of people with low levels of stress and reasonable hours. WFH 100%. Contract renewed on the last day of the year with a £50/day pay bump - now standing at £775/day. Only downside is this renewal is only until end of March 2021 when I may be given the opportunity to switch to perm... Client undecided on whether future contracts will be inside or outside IR35, but have been told there are 30 odd screens yet to build, so the pipeline of work is certainly there.

What went well:
Started off 2020 with a bang with a holiday in Moscow / St. Petersburg over the xmas /nye period to see my Russian girlfriend whom I met at a music festival in summer 2019. She then came over to visit in March, ostensibly for a 10 day visit. I proposed to her on her 3rd day here and she said yes, happy days She then got locked down with me until August due to flight suspensions back to Russia, so that was a lot of unanticipated fun and a great road test of life living together. Summer holiday in Turkey with her before she headed back to Russia. Celebrated my 50th birthday with her in Moscow in November. Got married to in Cappadocia, Turkey at the end of December.

What went bad:
Started to suffer from sciatica in Feb 2020. Pain became worse and worse. Eventually had a steroid spinal injection in December which gave temporary relief. Now scheduled for an operation to treat what has been diagnosed as spinal stenosis, hopefully in the first quarter of 2021. Also had to start paying c£1,000 / month to HMRC as part of contractor 'disguised remuneration' settlement agreement plus a £50K lump sum. Good thing the mortgage is paid off already!

[BR14]

*MODS*


do the needful......

nasty.

[Lance]

not this year, i haven't

*MODS*


do the needful......

[BR14]

you been banned a few times.
That's not SFA

not this year, i haven't