A Choice

[Grah]

Indeed his contract could get canned next week


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I have come to the conclusion that IR35 in April will kill what is left of the PSC contract market. How far this evaluation may have been influenced by what covid has done this year I can't judge but I have never seen so few genuine contracts. I struggled in Jan/Feb to find anything decent and managed to luck into a gig in March but you can't pay bills with luck so I am going a different way.

[northernladuk]

Why close your Ltd, couldn't you just let it lie dormant while in the inside IR35 role? My accountant offers a discount if you need to go inside IR35 for a while and he doesn't have to do as much work for your Ltd. - might be worth asking yours' for the same?

Dormant and unused are two totally different things. There are steps to make a company dormant.

[edison]

..Or sub-contract the outside IR35 one to one of the desperate "I'll take anything" types around here. Should be able to make a fortune as an agent these days..

Yep, great if you can make this work. A family relative has been doing this with several sub-contractors during Covid and his margin is over 60% in one case.

[GhostofTarbera]

Why close your Ltd, couldn't you just let it lie dormant while in the inside IR35 role? My accountant offers a discount if you need to go inside IR35 for a while and he doesn't have to do as much work for your Ltd. - might be worth asking yours' for the same?

Indeed his contract could get canned next week


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[David71]

Thanks guys for your input. It has helped solidify my mind which was probably going in this direction anyway.

I had thought briefly, briefly about doing both but couldn't do that. I am honest and therefore not an overly successful businessman so I will be closing my company and picking the safer, govt job option. Been fun while it lasted but that is the future we seem to have been served up.

Why close your Ltd, couldn't you just let it lie dormant while in the inside IR35 role? My accountant offers a discount if you need to go inside IR35 for a while and he doesn't have to do as much work for your Ltd. - might be worth asking yours' for the same?

[Grah]

Thanks guys for your input. It has helped solidify my mind which was probably going in this direction anyway.

I had thought briefly, briefly about doing both but couldn't do that. I am honest and therefore not an overly successful businessman so I will be closing my company and picking the safer, govt job option. Been fun while it lasted but that is the future we seem to have been served up.

[DaveB]

If you think you can juggle the workload do both.

Live on the money from the inside gig, keep the money from the outside one in the company for when you need it.

Running multiple clients is hard work but worth it if you can manage it, full time WFH makes it easier so take advantage while you can.

[nomadd]

Do both

..Or sub-contract the outside IR35 one to one of the desperate "I'll take anything" types around here. Should be able to make a fortune as an agent these days..

[northernladuk]

Keep the one you've got. We've got another guy on here right now that's quit one job and the gig they were hopping to has disappeared so if that isn't enough of a reason to stay I don't know what it is.
Govt work is nice and slow so could be nice long one.

[GhostofTarbera]

Do both


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[eek]

Bin it - the odds of many contracts being outside IR35 after April is roughly zero as Covid has ensured there is a plentiful supply of contractors and no where near as much work.

[Grah]

First off my apologies to anybody who is sat there without a contract - this might seem a like a trivial problem to have. After three months of no work myself I have just started a contract with a public organisation in London that is inside IR35 and means I have to umbrella up. Full WFH for 4.5 months and then who knows. Rate is bearable given it is WFH but I believe that the Inside IR35 thing is due to me gettting this contract through a tech consultancy who have stated their contracts have to be inside. I have a suspicion that other contracts on the project from other third party tech providers may be outside.

I have also just been approached by a previous client with a three months outside IR35 contract WFH but for a good bit less.

My choice is 4.5 months w govt\public organisation and therefore likely several extensions but all the time being pissed off about having to close my Ltd vs a three monther but at the moment nothing beyond that (specific project requirement) and I can work through my Ltd and keep it alive.

Am I being too emotional in wanting to keep my company? Or should I just bin it, ride out the current storm (and the reintroduction of IR35 in April that might just tip the boat up yet again) in what should be a safe and possibly long term inside contract?