Interested to know people's plans for next 1-2 years

[eek]

I'd thought of this but not sure how to make any money - no-one I know wants to pay for this stuff.

the one thing about dealing with some companies is the fact they have money and may be willing to spend it.

Dealing with people who don’t money isn’t worth it.

[Hobosapien]

It certainly will be tricky. My main competition will be the younger relatives of potential customers that were born with an iPad in their hand.

Perhaps like glaziers who send their kids to put a few windows through when business is slow, maybe I can drive around housing estates with a wifi blocker while I'm leafleting the area.

I think I'll start with the minted OAPs that want to be able to 'facetime' their distant relatives. Should be able to live off free tea and cake for a while.

[tsmith]

With the impending doom, I'm working on the assumption outside roles will be few and far between, at least for a year or two.

I'm therefore considering:-
- taking a few months out
- inside role at new client
- find an umbrella that does salary sacrifice into my pension (or I can do a transfer)
- ~£3,000 into pension every month to be as tax efficient as possible
- keep ltd open and top up salary with dividends as needed (trying to stay under 40% tax)
- try to negotiate a smaller accountancy fee
- see what the market looks like in 18-20months and then either MVL (if it exists!) and stay umbrella or go perm.....or if the market has recovered a bit, back to outside roles.

I came to the realisation when I was in a perm interview last week that I'm not mentally ready for those shackles , regardless of what it does to my income

A 2 year gap on your CV. And then try to go perm as an ex-contractor?

I hope your skills are in demand as that sounds like a tough sell to me

[oliverson]

My plan would be to finish up at the end of next week and head out to my pad in Andalusia for a few weeks before returning to the UK. I'll take a couple of months off and see what transpires. My aim would be to start a new contract early April when all the unknowns are known. I'm quietly confident I can land an outside role. As sod's law I've had a couple thrust in my face and on good money (£700) and outside, but I'm committed to taking time off and having contracted end-to-end for the last 8 years solid, it's long overdue. It does occur to me that when I start looking again, I might not have these opportunities but so what, something else will come along. It always does. Failing that I'll consider selling up in the UK and heading to Spain where I wouldn't have to work but with a technology park 20 mins from home and 650 companies on it, there are bound to be short-term skill gaps. Would pay for the rounds of golf and tennis club membership. I'd also look at a return to musicianship and make some beer money as a gigging musician. I have several plan B's that never get started due to full-on contracting/commuting so that would be worth a shot. The only thing that stops me doing all this right now is I just wanted another 3 years in the game. Retire from full-time contracting at 55. That might be brought forward.

[LordAsriel]

Current contract is finishing in two weeks time and the market is extremely dire. Although I have seen a few more outside IR35 roles being advertised, none for my skillset (Agile Coaching).

Plan;

1. Sit on bench for 2-3 months whilst the IR35 dust settles and apply for outside IR35 jobs / contracts in Europe, further upskill and develop my training portfolio. Warchests exist for this reason
2. Consider permanent or FTC jobs as a temporary measure until something outside comes along
3. Inside IR35 role, only if local and rate reflected increased taxation, particularly employers NI

[KinooOrKinog]

Plan;

1. Sit on bench for 2-3 months whilst the IR35 dust settles and apply for outside IR35 jobs / contracts in Europe, further upskill and develop my training portfolio. Warchests exist for this reason

Is a contract in Europe not just similar to inside here though? Granted I don't know too much about it, but do most countries not operate a system similar to PAYE?

[GhostofTarbera]

Current contract is finishing in two weeks time and the market is extremely dire. Although I have seen a few more outside IR35 roles being advertised, none for my skillset (Agile Coaching).

Plan;

1. Sit on bench for 2-3 years whilst the IR35 dust settles and apply for outside IR35 jobs / contracts in Europe, further upskill and develop my training portfolio. Warchests exist for this reason
2. Don’t Consider permanent or FTC jobs as a temporary measure as no one needs agile coaching anymore
3. Inside IR35 role, when I’ve been on bench for 6 mi the without any interviews at 1/2 my current rate




NI

Fixed that for you to reflect reality

[rogerfederer]

- find an umbrella that does salary sacrifice into my pension (or I can do a transfer)
- ~£3,000 into pension every month to be as tax efficient as possible

Are you aware that the pension rules are likely to imminently change?

The 40% relief is likely to be abolished. Relief will be limited to the 20% band but, crucially, with other changes at play that could see the ability of pre-tax pension contributions via umbrella to no longer be permitted.

If you suggest that's crazy, I am inclined to agree. Watch this space. See Financial Times/Telegraph for more info. I prefer to avoid the Telegraph as it's a brexit rag and seems prone to business misinformation these days.

[LordAsriel]

Is a contract in Europe not just similar to inside here though? Granted I don't know too much about it, but do most countries not operate a system similar to PAYE?

To my understanding from liaising with recruiters / umbrella companies when discussing potential recruiter roles in the past, yes. The difference is that I've always wanted to live and work abroad, so for such an opportunity I'd be open to taking a cut in take home for the experience of living abroad.

[apj]

1. Signed a rolling contract in Dublin to keep my ltd company afloat.
2. Got offered a few almost-as-good UK permie roles that will probably be waiting for me if I change my mind. Hopefully...
3. Converted a German permie role offer into a future remote client for my ltd company.
4. Do more work via Upwork/Guru if I can bag them and keep them.
5. Expand and update skills/knowledge to get better rates and offers, once the UK contracting market returns. Or not. Then do more work for clients in EMEA.

Fingers crossed...