PDA

View Full Version : Tired of working for a living



Major Hassle
18th December 2012, 14:54
So I thought I would try contracting :-D

Just finished a 17 year stint as a PM with One of the big banks (PEGA, Mtgs & Insurance not to mention integration) they were certainly "for the journey". So I'm taking the money and looking forward to the divis to come, once this tax year is over.

Read and searched forums sorry to dissapoint NLUK, so relatively confident about company formation etc. intend to create company now with SJD (paye/vat reg etc.) 90/10 ordinary share division as wife has income.

Presuming QDOS insurance and accountant should be sourced when 1st contract comes along as no point doing so before....

Anyway thought I would just pop by to say hello.

BA to the Stars
18th December 2012, 16:00
Hello Major and welcome.

A background in PM in banking is very useful and your former employers are certainly one of the major users of contractors at the moment, although you may find that they may not recruit ex-employees for a couple of years.

Good luck and welcome the world of contracting

Major Hassle
18th December 2012, 16:16
Hello Major and welcome.

A background in PM in banking is very useful and your former employers are certainly one of the major users of contractors at the moment, although you may find that they may not recruit ex-employees for a couple of years.

Good luck and welcome the world of contracting

Thanks BA - they have a 2 year break rule for contracting following VS. Could go back if "I wore another jacket" but to be honest I need a change of scenery...

BA to the Stars
18th December 2012, 16:18
Thanks BA - they have a 2 year break rule for contracting following VS. Could go back if "I wore another jacket" but to be honest I need a change of scenery...

You will probably find that the skills that you havedeveloped in the bank and take for granted as being what you need to know to do your job are seen as a bonus in some other organisations, especially the public sector.

northernladuk
18th December 2012, 17:08
Read and searched forums sorry to dissapoint NLUK, so relatively confident about company formation etc. intend to create company now with SJD (paye/vat reg etc.) 90/10 ordinary share division as wife has income.
.

Quite the opposite to disappointed. Very pleased to hear it.

SimonMac
18th December 2012, 18:03
http://farm8.staticflickr.com/7007/6808075875_327e2fda75_z.jpg

EDIT: Hey, why are images disabled in here :tantrum:

malvolio
18th December 2012, 19:22
So I thought I would try contracting :-D

Just finished a 17 year stint as a PM with One of the big banks (PEGA, Mtgs & Insurance not to mention integration) they were certainly "for the journey". So I'm taking the money and looking forward to the divis to come, once this tax year is over.

Read and searched forums sorry to dissapoint NLUK, so relatively confident about company formation etc. intend to create company now with SJD (paye/vat reg etc.) 90/10 ordinary share division as wife has income.

Presuming QDOS insurance and accountant should be sourced when 1st contract comes along as no point doing so before....

Anyway thought I would just pop by to say hello.

Missed an important bit. Join the PCG... :tongue

Also, just to be picky, SJD are an accountant, as far as I recall...

And accountants charge by the year so no real savings in delaying things anyway...

And I assume you've read all the guides you can find so you understand everything that isn't IR35-related (the local obsession... :wink )




But hey, yes, best of luck. Welcome to the madhouse. :yay:

Major Hassle
18th December 2012, 19:36
Missed an important bit. Join the PCG... :tongue

Also, just to be picky, SJD are an accountant, as far as I recall...

And accountants charge by the year so no real savings in delaying things anyway...

And I assume you've read all the guides you can find so you understand everything that isn't IR35-related (the local obsession... :wink )




But hey, yes, best of luck. Welcome to the madhouse. :yay:


Thanks - getting rid of all the appraisal & line management bs that I used to do will make this a saner house than the one I have just left.

Looking for SJD to do the company formation, vat & PAYE registration. Can't see the point in starting insurance or accountants before I actually get a gig...

Read up on S660 etc. and have either employed or worked with enough contractors over the years to have got the gist of things.

Never had 20 months of income in my back pocket to. Make the transition from permie though and the promise of a Golden handshake turns into cuffs after a while - should have gone years ago

Wanderer
18th December 2012, 20:03
Looking for SJD to do the company formation, vat & PAYE registration. Can't see the point in starting insurance or accountants before I actually get a gig...

Wow, someone who has done their homework for a change! Welcome! :wave:

As malvolio says, consider joining the PCG - their startup package can get you sorted with pretty much everything you need. Check it out in any case because it will give you a check list of all the insurances you may need.

Companies can be formed pretty quickly but you may also get offered a contract to start on Monday too so it pays to be prepared.

Don't forget to look into the VAT Flat Rate Scheme because this will probably be to your advantage....