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Utter pants. I've been a contractor since 1992 and have been forced into permiedom, things are so bad. Rates are very low even when there is a real contract at the end. I've seen plenty from under 10 quid an hour. Tesco's in Paddington are paying 12.50 an hour....nm wrote:Hi
Am planning to start career towards software contractor, how the market now for contractors and would like to get some input from members as well.
Me too. One of my friend is regularly cashing in £450 a day and I'm envious. He has a bigger car, bigger house, even his dinning table is bigger. All I have is some lousy perma job, where I get 2% increment.nm wrote:Thanks mate, currently am in a permanent role and just thought to give a try.. am really looking out to change my current job as its moving out to outsourced, so just looking for another job.
Don't be, contracting is a mindset, not everyone can do it. Remeber out of that £450 a day there is no holiday pay, sickpay, accountnants fees have to be paid, and u have to factor in long periods of not working, scouring jobserve. Part of that £450 goes into a fund which we contractors call a 'warchest' in case of large gaps.HSMP_maybe wrote:Me too. One of my friend is regularly cashing in £450 a day and I'm envious. He has a bigger car, bigger house, even his dinning table is bigger. All I have is some lousy perma job, where I get 2% increment.nm wrote:Thanks mate, currently am in a permanent role and just thought to give a try.. am really looking out to change my current job as its moving out to outsourced, so just looking for another job.
Hmm. That's true too.Wanderer wrote:Don't be, contracting is a mindset, not everyone can do it. Remeber out of that £450 a day there is no holiday pay, sickpay, accountnants fees have to be paid, and u have to factor in long periods of not working, scouring jobserve. Part of that £450 goes into a fund which we contractors call a 'warchest' in case of large gaps.HSMP_maybe wrote:Me too. One of my friend is regularly cashing in £450 a day and I'm envious. He has a bigger car, bigger house, even his dinning table is bigger. All I have is some lousy perma job, where I get 2% increment.nm wrote:Thanks mate, currently am in a permanent role and just thought to give a try.. am really looking out to change my current job as its moving out to outsourced, so just looking for another job.
Rates are plummeting that's for sure! I think contracting is now dead, or certainly dying, the rates don't justify it anymore.
"Envy is based on an incomplete understanding of the other person's situation."HSMP_maybe wrote:Me too. One of my friend is regularly cashing in £450 a day and I'm envious. He has a bigger car, bigger house, even his dinning table is bigger. All I have is some lousy perma job, where I get 2% increment.nm wrote:Thanks mate, currently am in a permanent role and just thought to give a try.. am really looking out to change my current job as its moving out to outsourced, so just looking for another job.
U need an accountant for this but figure on netting 65-70% of gross, remembering to pay ur VAT and also remembering as a limited u pay two lots of NI.nm wrote:Hi
What would be the tax rate applicable to contractor.? Do we have any site where i can calculate my income after deducting tax in contract job.? This will give me a concrete idea about what i'll get at the end if i do contracting,i just targetting to get 20% morethan what am getting from my current premimu job.
Not consolation enough, but I'll live.Vanadil wrote:"Envy is based on an incomplete understanding of the other person's situation."HSMP_maybe wrote:Me too. One of my friend is regularly cashing in £450 a day and I'm envious. He has a bigger car, bigger house, even his dinning table is bigger. All I have is some lousy perma job, where I get 2% increment.nm wrote:Thanks mate, currently am in a permanent role and just thought to give a try.. am really looking out to change my current job as its moving out to outsourced, so just looking for another job.
His might be bigger but he might prefer your dining table.
Depends on whther u r caught by IR35 or not. Let's assume you are, and your expenses are realistic, I'd say u'd get about 70% net to gross but it depends how u do it. U might want to pay ur self a small wage and declare a dividend quarterly.nm wrote:Tried on google, but i could not get a clear picture on it, say if i do contracting for 300£/day, what will be in my pocket at the end after all tax and fee.?