View Full Version : New to contract World

20th July 2013, 20:28
Hi there,
I am new to the contracting world and have been permi for last 8 years and have offered a 6 month contract with possibility of long term extension. I know the client and got the offer of £500 per day and there is no agency involve. Would you guys please let me know if I go with Umbrella company to start with how much I would take home. I would appreciate if you have some tips or advice on offer.


20th July 2013, 21:32
Hi NiceGuy.

Have a look at the Umbrella calculator. Umbrella Company Tax Calculator (http://www.contractoruk.com/calculators/umbrella_company_tax_calculator.html)

There are a number of umbrellas advertised here, give them a call to find out their fees.

As for advice, take a look at http://forums.contractoruk.com/accounting-legal/85729-basic-advice-when-running-your-own-contractor-business.html and first timers guides.


20th July 2013, 22:40
I would advise you forget the extension aspect completely and don't get your hopes up. People have been binned in the reception area on their first day. As a contractor you don't have anything until the ink has dried on the contract and you are sat at a desk at the client and even that can be taken away from you in a day.

20th July 2013, 22:41
And the other piece of advice is make sure you have a large warchest. Should the worst happen and this falls through or you don't get your extension you could be on the bench for a good number of months, particularly if you are new to contracting.

21st July 2013, 20:53
At £500 a day for 6 months, it's worth considering ltd. Read the newbie guides ---->

21st July 2013, 21:53
Out of interest how do you know the client? Wouldn't be through your current role leading to possible handcuff problems would it?