Offer for first contract - few questions

[northernladuk]

Check the Accountant recommendation sticky in the Accountancy forum. Give some.of them a bell and see who floats your boat. Costs are pretty much comparable I believe.

[dl8860]

Thanks both, was slowly coming to the realisation that any fixed term wasn't really ever going to hold water. Really appreciated the other thoughts northernlad, thanks. Just need to gear myself to jump in and enjoy the ride.

Deciding between accountants now, does £129/mo for a fully comprehensive service (including indemnity and liability insurance) sound reasonable?

[northernladuk]

Hi all,

I'm a Structural engineer (rather than IT which it seems most round here are), have been working perm for 4.5 years (all one company) and following 2 rounds of interview, have an offer for a contract job. All the signs are good, only thing is that what I thought was going to be a 6 month minimum term (i.e.in my eyes a minimum of 6 months guaranteed work), is actually just the assignment length, and a 30 day notice period is on effect from day 1.

Although it could be the case, to assume any contract is guaranteed is a mistake IMO. You are at the mercy of budgets, cheaper competition, state of the project and so on. We are in as temporary resources and can be treated as such. They can let you got with 30 days notice so that alone should tell you it's not guaranteed. If you look carefully at your contract I expect there will be a clause saying something about no pay without a signed time sheet. If the client wants to be a right arse they can actually just ask you not to come in for the rest of the contract which means you don't get another days pay from there on i.e. effective immediate termination. It's not unheard of for them to make up something about work being substandard and walk you because of other clauses as well.

Don't be fooled in to thinking anything in contracting is guaranteed.

Just wanted to see if that's normal practice? I'm well aware contractors work with much less job security, is it just a case that I need to strap on a pair and take the plunge? All signs from the company (and agency) seem that there's tonnes of work for plenty of time to come, but that's what they would say...

Have received a fleshed out contract between agency and my newly set up Ltd Co, and intend to hand in my notice tomorrow. Just looking for some general reassurance I guess!

Thanks

Sorry to sound negative and not very reassuring but you've got to be aware of these factors from day one. We have plenty of new contractors on here complaining they got binned and trying to sue their clients/agents because they didn't appreciate that fact.

That said we all work with the same clauses and many of us have done very well out of it so if you are confident the work is there then fill your boots. If you are good you should be able to get another after this one anyway.. But... the second gig is the hardest to get. You are under no time or financial constraints looking for work while in a job. Once you leave this gig you will have no income and have to find something quick.

Also remember they are all temporary gigs, be it 3 months or two years. They will end. Pay yourself the minimum to start and get a good 3-6 months warchest behind you so you can suffer the rainy days on the bench. I was worse off contracting for the first 6 months or so than I was as a permie while I was building the chest up. Don't go spunking it all because you are suddenly earning a lot more.

Get the basics right, keep your head screwed on and you should be OK.

[cojak]

Sorry, there NO such thing as a minimum guaranteed contract.

Six months is the amount of time they can budget for you. They can dump you on the day you turn up on site if the budget gets pulled.

Such is the contractors life I'm afraid, that why we get paid what we get paid.

[dl8860]

Hi all,

I'm a Structural engineer (rather than IT which it seems most round here are), have been working perm for 4.5 years (all one company) and following 2 rounds of interview, have an offer for a contract job. All the signs are good, only thing is that what I thought was going to be a 6 month minimum term (i.e.in my eyes a minimum of 6 months guaranteed work), is actually just the assignment length, and a 30 day notice period is on effect from day 1.

Just wanted to see if that's normal practice? I'm well aware contractors work with much less job security, is it just a case that I need to strap on a pair and take the plunge? All signs from the company (and agency) seem that there's tonnes of work for plenty of time to come, but that's what they would say...

Have received a fleshed out contract between agency and my newly set up Ltd Co, and intend to hand in my notice tomorrow. Just looking for some general reassurance I guess!

Thanks