I start my new 'perm' position next week. Having roughly matched my contracting take home which transpires to a quite high permie salary I have decided to take my new 'perm' position for the next six months....
I was planning a move to the west country and a new shop. This job is in the wrong locatiion. I also realised that the three pay slips including bonus would appear to be considerably more than what shows on my business accounts.
I have always been amazed at how banks will lend against your Gross permie salary but only the profit of your contracting company. As my contracting is always full of hefty 'expenses' to minimise tax it doesnt look great in the account stakes so in the last few years I can't prove my income very well.
So I am cynically going to use the new perm position to obtain a nice hefty mortgage on a much larger house in the south then jump back into contracting again in October.
Very cynical.
I was planning a move to the west country and a new shop. This job is in the wrong locatiion. I also realised that the three pay slips including bonus would appear to be considerably more than what shows on my business accounts.
I have always been amazed at how banks will lend against your Gross permie salary but only the profit of your contracting company. As my contracting is always full of hefty 'expenses' to minimise tax it doesnt look great in the account stakes so in the last few years I can't prove my income very well.
So I am cynically going to use the new perm position to obtain a nice hefty mortgage on a much larger house in the south then jump back into contracting again in October.
Very cynical.
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