Reply to: Budge up

[Growernotashower]

What do you do DaveB?

[DaveB]

What's the problem with contracts on a fixed rate? Is it to do with IR35 type issues or more that it usually amounts to a lower actual rate?

If we (contractors) are not benefitting from this, what is the benefit to the end client?

Nothing wrong with a fixed price contract, positively good for an IR35 defence, but when that fixed price is based on a fixed term contract at permie rates ie. £12 per hour rather than £50+ contractor rate it's less attractive.

Basically they don't want to pay contract rates but they don't want to hire a permie either.

[HeliCraig]

Unless your bank goes under, obviously.

I am almost considering spreading my money equally around several accounts, just in case. Luckily, i'm too lazy.

If you do decide to stop being lazy then be careful. The governments £35k guarantee system covers the first £35k per "authorised institution." Some of the high street banks are, of course, all part of one "authorised institution" HBOS being one, yet RBS (RBS, NatWest and Tesco) are 3.

Also, you double the protection if you put in an account Jointly with yourself and Mrs BigYin.

[Mustang]

.........but the force wanted to pay fixed term contract permie rates.

What's the problem with contracts on a fixed rate? Is it to do with IR35 type issues or more that it usually amounts to a lower actual rate?

If we (contractors) are not benefitting from this, what is the benefit to the end client?

[jmo21]

Unless your bank goes under, obviously.

I am almost considering spreading my money equally around several accounts, just in case. Luckily, i'm too lazy.

i've done that myself this week into 2 separate bank accounts....just in case!

and yes, before anyone says they are all separate financial institutions

[DaveB]

What for, a PCSO?

Home Office are looking too and there's a role over at the Houses of Parliament. All infrastructure or security architecty type stuff, although I seem to remember you're into compliance.

Nope, for compliance and policy implementation around integrating information assets and preventing unauthorized disclosure. Pukka stuff, but the force wanted to pay fixed term contract permie rates.

[TheBigYinJames]

Are you owed something or have you been wronged and want revenge?

No, I'm not into a shanti-style revenge. But when things are going to tulip, it's nice to know you have a modicum of security to see you through the bad times. So it's more gladness at me being sorted rather than lack of sympathy for others.

[oracleslave]

When did they ever help me

Are you owed something or have you been wronged and want revenge?

[ratewhore]

Had a call from a pimp re a Police related job, wanted to pay 12 per hour....

What for, a PCSO?

Home Office are looking too and there's a role over at the Houses of Parliament. All infrastructure or security architecty type stuff, although I seem to remember you're into compliance.

[TheBigYinJames]

I am sure Joe Public wishes you all the best as well

When did they ever help me

[DaveB]

NPIA and HMRC are looking at the mo. PM me your details and I'll let pimps know who call me if you want...

Had a call from a pimp re a Police related job, wanted to pay 12 per hour....

[oracleslave]

the savings are intact, and it will be nice to see them going up over Christmas when all around are going bust.

I am sure Joe Public wishes you all the best as well

[TheBigYinJames]

There is that. I have my personal and business account both with Barclays.

Cash rich, and unlikely to go under. Or in other words, if Barclays goes under, we're in deep trouble anyway, and spreading it around other banks won't help because they'll already be toast.

I had 2 months on the bench (one of them on purpose) and managed to live within my last payment from the last contract, so the savings are intact, and it will be nice to see them going up over Christmas when all around are going bust.

[VectraMan]

Unless your bank goes under, obviously.

There is that. I have my personal and business account both with Barclays.

[TheBigYinJames]

Hopefully I'm off the bench too after 3 months (though only 1 month of looking). I had enough money for 6 months at least, but it'll sure be good to see the bank balance going in the right direction again.

Unless your bank goes under, obviously.

I am almost considering spreading my money equally around several accounts, just in case. Luckily, i'm too lazy.