becoming a contractor
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  1. #1

    Nervous Newbie

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    Default becoming a contractor

    Hi!!

    My name is Leti.
    I would like to ask you a question regarding becoming a contractor in the Uk.

    I have been working in London for aprox 3 years always in perm bases.

    I Have received an offer for an initial 6 months contract (with the possibility to become perm after 6 months).

    They have offered me 220/day. But I have never worked as a contractor and I do have a lot of questions...

    I was wondering if i should go for umbrella or set up my own company and secondly if I get an insurance how much this will cost me given that I havent worked as a contractor before...

    What would it be the net I will get per month(aprox) after deducting all the cost?


    thank you!
    Any help will be much appreciated

  2. #2

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    stek - scorchio!

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    No advantage in ltd on 220 a day plus role is inside IR35 so brolly is only option really which would include insurances.

    Probably net £600 a week or so, £2500 a month roughly.

  3. #3

    Nervous Newbie

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    Default thaks

    Quote Originally Posted by stek View Post
    No advantage in ltd on 220 a day plus role is inside IR35 so brolly is only option really which would include insurances.

    Probably net £600 a week or so, £2500 a month roughly.
    thank you

    as a perm im currently on 2400 month so I believe this is not gonna have any advantage...

  4. #4

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    quackhandle is NOT a disguised employee

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    Default

    Without knowing all the details I would have thought 220/pd in London is a very low rate, even taking the Arthur Bliss, knowing you have never contracted before.

    qh
    He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

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    Was wondering how did you end up doing with this contract??

  6. #6

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    LondonManc is a fount of knowledge


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    Default

    Quote Originally Posted by letor1987 View Post
    thank you

    as a perm im currently on 2400 month so I believe this is not gonna have any advantage...
    They'll be getting the "New Contractor Bonus Cut" out of your day rate.
    You should be on a lot more but because you're green and have had your head turned by the idea of contracting, the agent is probably taking a 45% cut.

    Not only that but the second contract will be a lot harder to get if you've only got three years under your belt.
    The greatest trick the devil ever pulled was convincing the world that he didn't exist

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