IT Contracting help?
#1
Guest
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Hi Chaps,
Have the option (maybe...) of contracting rather than perm. Never been there before but the *rewards* are too good to miss...
Can anyone point me to any good web sites that go through all the issues/pitfalls?
Also, any good accountants around the Wokingham/Reading area experienced in this field?
Thanks for any help
Dave
Have the option (maybe...) of contracting rather than perm. Never been there before but the *rewards* are too good to miss...
Can anyone point me to any good web sites that go through all the issues/pitfalls?
Also, any good accountants around the Wokingham/Reading area experienced in this field?
Thanks for any help
Dave
#2
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Join Date: Jul 2000
Location: Islington
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Ask away, I've been a con for the past 6 years and I imagine some on this bbs have been for longer.
Remember, out of your 'hard' earned cash, your company will have to pay...
ees tax and NI
eer NI
corporation tax
pension
you won't get sick pay or paid holiday
count on working 46 weeks of the year and you won't be far wrong
I have a spreadsheet that you just input salary/rate weeks per year and whether your contract or permie and it tells you how much you'll get in your pocket and how much tax you'll pay. It also highlights how much better off you are for not paying eer NI!!
let me know and I can email it to whoever wants it!
As for accountants, find a local one by recommendation that you can go face to face with. Contractor specific accountants are out for the profits and are complete t0ssers -avoid Giant at all costs
Fosters
Michael.toye@bmw.co.uk
Remember, out of your 'hard' earned cash, your company will have to pay...
ees tax and NI
eer NI
corporation tax
pension
you won't get sick pay or paid holiday
count on working 46 weeks of the year and you won't be far wrong
I have a spreadsheet that you just input salary/rate weeks per year and whether your contract or permie and it tells you how much you'll get in your pocket and how much tax you'll pay. It also highlights how much better off you are for not paying eer NI!!
let me know and I can email it to whoever wants it!
As for accountants, find a local one by recommendation that you can go face to face with. Contractor specific accountants are out for the profits and are complete t0ssers -avoid Giant at all costs
Fosters
Michael.toye@bmw.co.uk
#3
Because of IR35, the benefits of being a limited company contractor have largely been eliminated. I would recommend going for an umbrella company. You still earn the big money, save yourself loads of paperwork, and all for a bit of a drop in what you could earn as a limited company contractor.
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imlach
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04 January 2001 11:07 AM