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April off payroll

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    #31
    Originally posted by JavaGenius
    Many of the larger companies are taking a total blanket approach IMO. Would be interesting to know how your meeting went.
    If even the idiots avoid the same rate but inside IR35 due to such blanket approach then clients will up the rate. For £450-500/day you should be quoting minimum £700/day inside IR35, if not £750 depending on your calculated expenses.

    Everybody has to take this approach. The issue is: many contractors can talk a good game but are idiots who won't understand the money issue until their SATR or until their first monthly pay cycle from the agency.

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      #32
      Originally posted by rogerfederer View Post
      If even the idiots avoid the same rate but inside IR35 due to such blanket approach then clients will up the rate. For £450-500/day you should be quoting minimum £700/day inside IR35, if not £750 depending on your calculated expenses.

      Everybody has to take this approach. The issue is: many contractors can talk a good game but are idiots who won't understand the money issue until their SATR or until their first monthly pay cycle from the agency.
      Lol - post of the month

      Ok everyone do the above - job done


      Sent from my iPhone using Contractor UK Forum

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        #33
        Originally posted by rogerfederer View Post
        If even the idiots avoid the same rate but inside IR35 due to such blanket approach then clients will up the rate. For £450-500/day you should be quoting minimum £700/day inside IR35, if not £750 depending on your calculated expenses.

        Everybody has to take this approach. The issue is: many contractors can talk a good game but are idiots who won't understand the money issue until their SATR or until their first monthly pay cycle from the agency.
        Wow, why did no-one think of this before!

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          #34
          Originally posted by rogerfederer View Post
          If even the idiots avoid the same rate but inside IR35 due to such blanket approach then clients will up the rate. For £450-500/day you should be quoting minimum £700/day inside IR35, if not £750 depending on your calculated expenses.

          Everybody has to take this approach. The issue is: many contractors can talk a good game but are idiots who won't understand the money issue until their SATR or until their first monthly pay cycle from the agency.
          I took your advice and asked for £700/day,
          Now i am jobless and homeless.

          Comment


            #35
            Originally posted by rogerfederer View Post
            If even the idiots avoid the same rate but inside IR35 due to such blanket approach then clients will up the rate. For £450-500/day you should be quoting minimum £700/day inside IR35, if not £750 depending on your calculated expenses.
            Why not go the whole hog and quote £2k a day? Or 10k? Why are you thinking so small?

            Comment


              #36
              The guy above has a point.
              If you've been a contractor long enough and have a decent warchest you should be able to sit this one out.
              But if you are going for £450pd inside that is about 4.5k net.
              A modest life outside central London, studio, not eating out, not owning a car will set you back around 2.5k.
              If you have a car, would want to go out the occasional weekend, go for a holiday now and then(to get over the miserable time with the client) you'll be around 3.2k at least.
              If you are going for the contractor route, deal with all flavours of clients, long hours, no employment rights, potentially some bench time now and then maybe you should be saving more than 24k/year.
              But maybe that is just me.
              Market will adapt only if people ask what they think they deserve. On the other hand, it might not be as much of a free market as we would like to think, gov might cut employment rights and stir the rat-race and companies refuse to take on contractors. In that scenario we are f... anyway.

              If you have an overstretched mortgage, long apartment lease and can't tighten the belt a bit and get by for a while, that is on you.

              Comment


                #37
                Originally posted by GigiBronz View Post
                But if you are going for £450pd inside that is about 4.5k net.
                How 4.5k is calculated ? I thought through umbrella co you get 58.58%.


                Sent from my iPhone using Contractor UK Forum

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                  #38
                  Originally posted by GigiBronz View Post
                  The guy above has a point.
                  If you've been a contractor long enough and have a decent

                  Market will adapt only if people ask what they think they deserve. On the other hand, it might not be as much of a free market as we would like to think, gov might cut employment rights and stir the rat-race and companies refuse to take on contractors. In that scenario we are f... anyway.

                  If you have an overstretched mortgage, long apartment lease and can't tighten the belt a bit and get by for a while, that is on you.
                  I agree with the sentiment.

                  i would offer that the offshored permie-tractors who took the 10% rate cuts in the ass in repeatedly also led us up to this point.

                  To be fair businesses have been paying £450/500 for over ten years now as a market rate, seemingly regardless of seniority.

                  Sink or swim time for both the contractor and the businesses that rely on them or, evolve or die out.

                  Comment


                    #39
                    Originally posted by Bluenose View Post
                    I agree with the sentiment.

                    i would offer that the offshored permie-tractors who took the 10% rate cuts in the ass in repeatedly also led us up to this point.

                    To be fair businesses have been paying £450/500 for over ten years now as a market rate, seemingly regardless of seniority.

                    Sink or swim time for both the contractor and the businesses that rely on them or, evolve or die out.

                    This is what I was also getting at and mentioned in another thread:
                    Rates have been static for about 15 years. £500/day 15 years ago is £300/day in money today due to inflationary costs.

                    My original point remains: if you've been earning lots of money for years then you should have a good war chest. Take a few months off, go abroad and keep in touch with foreign opportunities. A few idiots taking £375/day inside - such as a senior program manager role advertised yesterday at RBS in Edinburgh, will ensure the program is so badly damaged that they will eventually turn to the professionals once the dust has settled. If RBS turn to large 'service providers' then this damage also emerges and they'll hopefully employ a better contractor strategy once this is realised.
                    This m.o applies across most medium to large enterprise clients that most of us have dealt with for a decade or two.

                    If you've been splurging all your Ltd co income on fast cars, large houses and private schooling then I'm afraid "you did it wrong".

                    The high quality contractor roles will remain outside IR35 eventually once the banks realise what a big mistake they've made. I admit this process may take until 2021 to finalise but, in the interim, I strongly recommend the £550-1000/day crowd look abroad until the dust settles.
                    Last edited by rogerfederer; 17 January 2020, 20:20.

                    Comment


                      #40
                      Originally posted by Andy2 View Post
                      I took your advice and asked for £700/day,
                      Now i am jobless and homeless.
                      Lol


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