And if you only work part time, claim income support and council tax 'credit'....
After all, youve been paying two lots of National Insurance (ha ha!)
Why bother stressing yourself, when the harder you try, the more you get taxed...?
Chill out...
Or, put up a whole bunch of Leylandi (not plural for rusting British made cars) between you and that golf course, marina, area of designated scenic beauty, green belt land etc, and cut yer bills by half....
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Reply to: Rates
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Previously on "Rates"
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Originally posted by BovveredSo I can go live in quiet suburb and ghave a house twice as big for half the cost.
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Originally posted by BlasterBatesCome on ...reasons reasons.
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Ancient is Sir John Harvey-Jones and I claim my £5!
Unfortunately I never experienced the boom years of contracting as I graduated when the Y2K and dot.com bubbles burst, so for me the likes of IR35 are the only contracting reality I have ever known, which does put a slightly different perspective on it.
Perhaps in order to safeguard the future we need to wine and dine our existing clients like a Latino lover just to secure future contracts.
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Will probably retreat from the City next year
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Next year
Will probably retreat from the City next year, so my rates will inevitably drop.
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Rates have always been cyclical.
The 'anecdotal evidence' I see is that it is getting harder and harder to maintain the highest rates you've acheived. If you've got a nice corner of the market though you're ok, just hang in there and milk it.
There are now Russians, Hungarians and Poles who are going to put further downward pressure on things though.
http://www.xc1.com/forum/viewforum.p...7d360bbc5f2c15
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It is all about supply and demand.
As long as people are prepared to undercut then the rate will remain low.
The distortions in how people run their business e.g. IR35 full wammy or EBT / Offshore allow some people to undercut significantly further.
Unfair? Probably, but that is the way the world works.
Larger risk takers are rewarded, legal tax paying citizens - not.
If my next contract pays less than 2 x permy under IR35, then contracting is no longer viable.
In the old days contracting used to average 3+ x permy.
My permy rate is about 100k
For those at the bottom end of the market, it may be more viable.
At the top-end there are all those senior retired programme manager interims who are bored out their minds, and just want some pin money and will accept crap rates.Last edited by ancient; 6 November 2005, 22:20.
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It would be impossible to find a lower rate than I've been on this year - unless the bottom falls out the burger market
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Rates
So next year, will you be earning more, less or about the same as this year?
Are you thinking of rate rises, trying to dodge rate cuts or just hoping to keep your head down and toodle along?
By the way, http://news.bbc.co.uk/1/hi/business/4405550.stm
The total pay of top company bosses increased by 18% last year, a survey of 1,000 directors has found. Income Data Services' (IDS) annual board room survey found almost half now earned over £1m, with eight receiving packages worth in excess of £5m.
IDS, which has assessed executive pay for the last 15 years, said it had never seen so many earn so much money.Tags: None
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