Hello & Some Guidance Please

[Tealer]

£35K gives you a take home of £26,162.36
£40K gives you a take home of £29,562.36

You only pay 40% on your income above £35K not on the entire amount.

Just to be further pedantic, I was not implying that I previously earned 35k as a permie. My point was that once you get past the 35k mark, you lose the 40% above 35k, and i'd rather have that in my pocket than Her Maj's tax coffers .

In the meantime, you'll be interested to know the contract is going well.

[JamJarST]

£35K gives you a take home of £26,162.36
£40K gives you a take home of £29,562.36

You only pay 40% on your income above £35K not on the entire amount.

Thanks SueEllen, that is exactly what I meant but I was being flippant. Sorry all for not being detailed in my original reply.

[SueEllen]

Explaination please....

£35K gives you a take home of £26,162.36
£40K gives you a take home of £29,562.36

You only pay 40% on your income above £35K not on the entire amount.

[northernladuk]

No it doesn't.

Explaination please....

[JamJarST]

Well, I've decided it's time to stop working for the corporate man, and work for myself. Been working in IT for over 12 years now, and I'm finding that permanent wages just aren't getting any higher for my skills. I don't know whether I'm not selling myself properly, but I've been in 3 different jobs over the past 6 years, and have only managed to earn 2k more than 6 years ago.... Also, a 5k jump in wages, means less in the pocket due to the 40% bracket. Companies also seem to want a hell of a lot for their buck (MCSE and CCNA and VCP = 35k?)
So, contracting is the next logical step. I've always been scared of taking the plunge, but I think now is the right time personally and professionally.
I have a colleague who may have lined me up an initial contract (9 months), but just wanted some guidance how to get the ball rolling, as whether this contract comes through or not, I need to test the market as well.
I'm currently perm, but how do I start to put myself out on the market? I have to give the perm role 4 weeks notice, which I'll be looking to get out of. I'm more than likely going to go the Ltd route, so, until this is in place, how do I get my CV with agencies? Do I just sell the individual or the soon to be setup company?
Any pointers would be appreciated, I'm sure some of you have been in this position yourselves.
Many Thanks - Tealer

No it doesn't.

[northernladuk]

Well, it took a little while, but start my first contract tomorrow
Learned a few valuable lessons along the way, made a couple of mistakes and this forum has been indispensable.
Now, next step, trying to line up the next one!

Good to hear well done. Cojak will expect her commission or she will come and hunt you down like a rabid dog.

... and I expect some commission for giving you this very valuable advice!

[cojak]

Well done and Good Luck Tealer!

[Tealer]

Well, it took a little while, but start my first contract tomorrow
Learned a few valuable lessons along the way, made a couple of mistakes and this forum has been indispensable.
Now, next step, trying to line up the next one!

[Tealer]

Thanks for the links, I especially like RichardCraniums response about perm/contract cv's!
Thanks for the advice about not mentioning the fact I'm a permie. Looking forward to becoming a contractor, I think it's about time.

[cojak]

Try these threads

http://forums.contractoruk.com/gener...-services.html

http://forums.contractoruk.com/gener...-updating.html

http://forums.contractoruk.com/busin...erm-roles.html

http://forums.contractoruk.com/busin...refresh-2.html

I wouldn't volunteer that you're still a permie. You might have a couple of interviews before they employ you the following Monday. It might be best if you hand in your notice from the moment you start applying for contracts, client and agents don't like waiting more than 4 weeks.

The reason that you can't get your head around contracting may be because you're still a permie.

[Tealer]

• Rewrite your CV

In a contractor manner - info on this can be found in the guides. Then sign up to jobserve, cwjobs, monster, jobsite and upload that CV.

Hi cojak, thanks for the welcome. The above is what I really have difficulty with. I've done some reading of the site and first timer guides. I'm happy that I'll be going with Ltd, and I understand about rewriting the CV.
How do I re-present myself, do I have to present my cv as the company or the individual? Do I explain to the relevant agency that I am currently perm, but need to give up to 4 weeks notice? This is the part of contracting I can't quite get my head around.

[cojak]

Hi Tealer, welcome to CUK!

Take a look at posts on this forum and the first timers guide First Timers Guide - for IT Contractors :: Contractor UK . They will gve you the basics.

Generally you need to follow some basic steps:

• Research jobsites

Look up jobserve, cwjobs, monster, jobsite to find out what jobs are out there and if any match your skill set. This will also give you an idea on rates.

• Rewrite your CV

In a contractor manner - info on this can be found in the guides. Then sign up to jobserve, cwjobs, monster, jobsite and upload that CV.

• Decide how you want to work - as a LTD or via an employer?

If you want to work as a LTD, select an accountant who can help you set up your LTD company.

• Apply for contracts on said jobsites.

Deal with agents; go to interviews, negotiate rates and turn up on your first day.

You can find more information and advice on the forums of this board and in the first timers guide. Please read these first before posting any questions.

See this post also.
http://forums.contractoruk.com/welco...e-newbies.html

Good Luck!

[Tealer]

Well, I've decided it's time to stop working for the corporate man, and work for myself. Been working in IT for over 12 years now, and I'm finding that permanent wages just aren't getting any higher for my skills. I don't know whether I'm not selling myself properly, but I've been in 3 different jobs over the past 6 years, and have only managed to earn 2k more than 6 years ago.... Also, a 5k jump in wages, means less in the pocket due to the 40% bracket. Companies also seem to want a hell of a lot for their buck (MCSE and CCNA and VCP = 35k?)
So, contracting is the next logical step. I've always been scared of taking the plunge, but I think now is the right time personally and professionally.
I have a colleague who may have lined me up an initial contract (9 months), but just wanted some guidance how to get the ball rolling, as whether this contract comes through or not, I need to test the market as well.
I'm currently perm, but how do I start to put myself out on the market? I have to give the perm role 4 weeks notice, which I'll be looking to get out of. I'm more than likely going to go the Ltd route, so, until this is in place, how do I get my CV with agencies? Do I just sell the individual or the soon to be setup company?
Any pointers would be appreciated, I'm sure some of you have been in this position yourselves.
Many Thanks - Tealer