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Advice needed - go perm or risk finding a new job in March?

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    #31
    Yes.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

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      #32
      Originally posted by djm View Post
      Hi everyone,

      I know this post is asking for a crystal ball but I'd really appreciate people's thoughts or advice.

      I'm a LtdCo contract Business Analyst. I've been doing it for 10 years as a LtdCo contractor, and never been out of work for more than 4 weeks. I'm limited in that I have to stay in my chosen city due to family reasons, but I've been lucky to manage to find jobs here all that time. Most of my jobs have been minimum 18 months, so hopefully my CV looks good.

      My current client is great. Been there 18 months now, and I love it. People are great, work is interesting. They've offered for me to go perm at the end of my current contract period, which is March. They are basically letting all their contractors go in March anyway due to IR35. From what I can tell, they can't be bothered to assess anyone, so they are just not renewing.

      So, my dilemma is: Do I go perm and take the hit in take home pay, or do I risk that there will be other jobs out there?

      What will the state of the contracting job market be like in March? Will companies be hesitant to hire, even if I go through an umbrella? Due to other reasons, I can't really afford to be benched for any length of time. I could start my job search in January to try and secure one for March, but it feels like companies aren't hiring right now - they're waiting to see what happens.

      A perm job is better than no job for me right now. But an umbrella job is better than a perm job!

      My client will want a perm answer from me before Christmas. I'm not sure what the sensible thing to do is.

      Does anyone have any advice?
      Go perm - storm is coming


      Sent from my iPhone using Contractor UK Forum

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        #33
        Originally posted by northernladuk View Post
        Because back then there wasn't a rumour that letters are going to public sector contractors after the changes 2 years ago and HMRC hadn't written to 1500 GSK contractors telling them we are looking at you.

        It's always been a risk but the heightened attention is making me much more nervous now. The sheer number of people going inside or perm must be an absolute honey pot for HMRC as well.

        That's just my opinion. As said numbers of times now, up to you you form your own opinion and act accordingly.
        Do you know what you'll do?

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          #34
          Originally posted by heyya99 View Post
          Do you know what you'll do?
          yes

          Comment


            #35
            Originally posted by heyya99 View Post
            Do you know what you'll do?
            I'm on the bench so anything I get will hopefully have been determined already so thankfully I don't have the choice or the risk.

            This time last year I said I'd stay inside the gig I had but I was still there up to last month and 2 years with all this going on was too much so I would have left if I was still there in Jan. If that helps.
            Last edited by northernladuk; 23 October 2019, 23:50.
            'CUK forum personality of 2011 - Winner - Yes really!!!!

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              #36
              Changing the way that IR35 is determined does not change the fact that businesses need a contigent workforce.

              Being inside IR35 will still beat being a perm if you can get a gig where the rate is increased to reflect.

              I'm sure a lot of FTCs will continue to be more lucrative than perm.

              You said you are enjoying it, so if it was me I'd stick around til new year then start to look for something else, issue notice and be fixed up somewhere else before March.
              Last edited by 7specialgems; 28 October 2019, 21:51.

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                #37
                Originally posted by heyya99 View Post
                It seems to be common wisdom that Friday contractor, Monday perm is a magnet for HMRC investigation but can anyone tell me where this has come from? Yes, i know where the logic comes from but have HMRC actually said this is an issue? Is it possible they'll be happy to turn a blind eye as you're essentially doing what they want you to do - go perm and pay more tax.

                I'm sure there are many of us in this situation. If we don't go perm, then the market will be flooded next April and a lot of firms without staff.
                I did a Friday to Monday move... in both directions... with the same client...

                Contractor (delivering a specific project) to perm (generic Lead Developer) back to Contractor (delivering a specific project)...

                Fully reviewed and passed by IR35 specialist.

                It all comes down to if you will be doing a fundamentally different role which, in their view and my view I was. So it was all good - in theory (its all opinions!)

                Its dangerous territory though and you need advice if you are ever going to do it.

                But its not out of the question either.
                Last edited by dx4100; 30 October 2019, 13:16.

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                  #38
                  Originally posted by 7specialgems View Post
                  Changing the way that IR35 is determined does not change the fact that businesses need a contigent workforce.

                  Being inside IR35 will still beat being a perm if you can get a gig where the rate is increased to reflect.
                  That's the approach I'm going to adopt.

                  I've made a spreadsheet with monthly net take home pay for various salary levels (including bonus and pension contributions), day rates outside ir35, and day rates inside ir35.

                  At the end of the day, monthly net take home is the main thing we all take into account.

                  Given the current salaries and day rates I can personally aspire to, being inside ir35 still beats being a permie for the money and also because I don't have to deal with all the bulltulip that permanent employment comes with (performance reviews, personal development plans, and so on..)

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