Reply to: Coronavirus is a contracting planet killer for contracting

[Nut]

Rules in Germany and Holland I presume


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Ah I see

[GhostofTarbera]

Wait, what's this?

Rules in Germany and Holland I presume


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[Nut]

If I recall correctly, a contractor here who cannot work can claim up to 6 weeks of earning based on their tax returns for the previous year. So if you earned 120,000 in 2018, you would claim around 2,300 a week for the weeks you couldn't work for up to 6 weeks. Not too bad....

Wait, what's this?

[quackhandle]

Forget Brexit

Forget 5000 on the FTSE (your pension will be 1/2 when it hits 3500)

Forget inside or outside IR35

Forget umbrella take home pay

Forget SDS for gods sake

Forget loan schemes

Forget working again this year

Choose life.

qh

[darmstadt]

Happening imminently at ClientCo

Not quite you but similar:

Gatwick Airport said it has terminated the employment of 200 staff as part of “decisive action to protect the business”, PA reports.It will also be closed to flights between midnight and 5.30am with immediate effect, except for emergency landings.
The airport’s chief executive Stewart Wingate and his executive team will take a 20% salary cut and waive any bonus for the current financial year.

[hairymouse]

I guess it could be worse, like panic buying at the gun shop in the US.

I've always heard a statistic that the average person in the UK has something like £300 in savings and will be homeless if they miss one paycheck.

I'm also convinced that the media is not reporting the relief measures being implemented in other countries. I think the people will rise up soon and Coronavirus will be the least of Bojo's worries.

[Lost It]

In my "business" it's basically carry on until someone tells us to stop.

Not many builders get flu, they work in unheated cold and damp places for 9 months of the year so tend to have a pretty robust immune system. They also eat fairly healthily and don't sit in over heated stuffy offices. Different lifestyle, either you can do the work or you find something else.

IR35 was about to pretty much hurt the industry beyond compare but as long as there's work to do and supplies to do it the work will carry on as normal. That's what we are hearing on the ground.

I drove around the M25 this morning at 06:00. I have never ever seen the M4/Heathrow north bound cock up so clear of traffic. Whose drivers were not trying to wedge their Mercs and Audi's into a space a Smartfortwo would struggle to fit into.

Bring it on.

[ladymuck]

Companies that don’t cut deep and hard NOW (operations costs) will not survive

Prepare for the worse


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Happening imminently at ClientCo

[GhostofTarbera]

I'm feeling quite concerned. Thankfully I have a good warchest so provided I can be frugal I don't have to work again until I draw pension, but, there will be a heck of a lot of unemployment in a few weeks as companies close and lay people off, and will be a long time before the contracting market recovers, if it every does. I am starting to think about what I would like to re-train as - anything to avoid the need to work for the likes of a consultancy company and PDR's malarkey.....

Companies that don’t cut deep and hard NOW (operations costs) will not survive

Prepare for the worse


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[Wilmslow]

I'm feeling quite concerned. Thankfully I have a good warchest so provided I can be frugal I don't have to work again until I draw pension, but, there will be a heck of a lot of unemployment in a few weeks as companies close and lay people off, and will be a long time before the contracting market recovers, if it every does. I am starting to think about what I would like to re-train as - anything to avoid the need to work for the likes of a consultancy company and PDR's malarkey.....

[WTFH]

I'm currently self-isolating from IR35

[PurpleGorilla]

and we were all worried about going from outside ir35 to inside

I’m already inside ir35 and worried!


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[PlanB]

Forget Brexit

Forget 5000 on the FTSE (your pension will be 1/2 when it hits 3500)

Forget inside or outside IR35

Forget umbrella take home pay

Forget SDS for gods sake

Forget loan schemes

Forget working again this year

Businesses in the next 4/8 weeks will shed permie and mostly contractors alike like water as reality bites and they have to slash operating costs just to survive

Mass unemployment with people unable to pay mortgage or rent from £99 a week from government handouts - government will give you nothing

Only 10% of contractors will be working on this day on May



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My Mrs is ward manager at a hospital, so long as she stays alive and the UK doesn't collapse into some kind of mad max scenario she will be the very last person to lose their job. We also have no mortgage and are currently healthy and not in any of these extreme risk categories.

So currently thanking our lucky stars and thinking of those not as fortunate. Every pub, restaurant, theatre, cinema worker and anyone connected with transporting people anywhere is either at risk or on the dole.

I'd urge everyone to reach out to those around you, you're friends and family and try and help them get through this.

[Andy2]

and we were all worried about going from outside ir35 to inside

[darmstadt]

I’m calling bollocks to this


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Certain actions by European countries are putting the UK to shame, for example, the government announced it would support up to £1bn of state-backed lending through the British Business Bank, as part of a wider £12bn package of support for households and firms. High street banks will also raise their lending by around £21bn to provide further support following talks with the Treasury. France, on the other hand, will underwrite additional loans worth €300bn (£273.3bn) – more than 300 times the level of UK support. Last week, Germany said it would expand lending at its KfW state-backed investment bank from €460bn to €550bn, while saying there was no upper limit on the amount of loans it would issue.