Originally posted by PCTNN
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Anyone who has 'went perm', how has it been?
Collapse
X
Collapse
-
-
Originally posted by PCTNN View PostWere you sitting on a beach or were you in New York last year when you were crying like a baby about how long you had been on the bench and couldn't find anything?
I was mindful of the pipeline was all!⭐️ Gold Star ContractorComment
-
Hated being permie, but have to admit, the conferences were great. I remember going to Dublin for annual European user group. Basically got hammered for 3 days, went to a few talks, which i didn't really take much notice of, and all paid for by the company. Happy days they wereComment
-
Present your clients work at the conference and you can be paid to attend as an IR35 contractor.
Simples
Sent from my iPhone using Contractor UK ForumComment
-
Originally posted by PerfectStorm View PostNot having to go to company conferences (where people pretend to be interested in their company/industry) or have to take training (where people pretend that it's useful, impartial, accurate etc.) is surely a bonus. Both of those things are massive drags on permanent employment life.
When I'm sat on a beach somewhere or staying in a nice hotel in New York I don't sit there thinking "I wish I was at the Management Consultant Expo in Olympia or undertaking some internal accreditation training"Comment
-
Been back to perm for month or so now so thought now is a good time to get stuffs out of my chest & express/share my feelings/thoughts for this topic...
Since the day i started applying for perm jobs, I've been constantly thinking will am i going to be regretting it.. Tbh, not really.
Firstly, I'm in tech so the chance to work on greenfield projects is brilliant as it gives me good opportunities to upskill whilst being in work. Opportunities like these were hard to come by in contracting as before and probably nowadays contract positions are more tailored for specific niche (perhaps a bit old-school tech) & working on brown-field legacy projects. Unless you're okay with that... but I wasn't, as I was afraid to become a dinosaur in the tech industry. This industry moves fast & overall I felt I had to keep up with the change & being a perm that work on greenfield project will set me on right path.
Onto the financial side of things, my overall package value is not that far off an outside role, if any its possibly equates to same amount as an inside role offers. Plus, my monthly take home matches my short-medium financial goals so I'm happy. Just that I no longer can stash away more money in my business bank to build up a chest.
Finally, want to mention a few words on the baggage that comes with it. The line management part is the part i'm most dreading about. To be constantly having pointless 1-1 meetings to discuss things such as behavioural improvements will become a massive chore for me. Having done so many of these behavoural line management meetings over my early career years, i always felt it something that goes round & round in circles (They want you to improve on this - so you go away and improve, then next appraisal meeting they say you need to improve something else, and it continues forever... so eventually at some point you will become the most awesome human being ever lived & worked? No, of course not!) This was a main factor that drove me into contracting in the first place.
Having said that, i'm trading off the hassle of having to constantly keep an eye on my business accounting stuffs, making sure p11d submitted, ensuring my PAYE is processed correctly, doing my VAT returns, self assessments, managing my expenses... list goes on... phew!
I guess all i need to do is manage my line management & not get too bogged down about the pointless behavioural stuffs & just try my best to focus on what i'm supposed to do in my job.Comment
-
Originally posted by BritishLad88 View PostBeen back to perm for month or so now so thought now is a good time to get stuffs out of my chest & express/share my feelings/thoughts for this topic...
Since the day i started applying for perm jobs, I've been constantly thinking will am i going to be regretting it.. Tbh, not really.
Firstly, I'm in tech so the chance to work on greenfield projects is brilliant as it gives me good opportunities to upskill whilst being in work. Opportunities like these were hard to come by in contracting as before and probably nowadays contract positions are more tailored for specific niche (perhaps a bit old-school tech) & working on brown-field legacy projects. Unless you're okay with that... but I wasn't, as I was afraid to become a dinosaur in the tech industry. This industry moves fast & overall I felt I had to keep up with the change & being a perm that work on greenfield project will set me on right path.
Onto the financial side of things, my overall package value is not that far off an outside role, if any its possibly equates to same amount as an inside role offers. Plus, my monthly take home matches my short-medium financial goals so I'm happy. Just that I no longer can stash away more money in my business bank to build up a chest.
Finally, want to mention a few words on the baggage that comes with it. The line management part is the part i'm most dreading about. To be constantly having pointless 1-1 meetings to discuss things such as behavioural improvements will become a massive chore for me. Having done so many of these behavoural line management meetings over my early career years, i always felt it something that goes round & round in circles (They want you to improve on this - so you go away and improve, then next appraisal meeting they say you need to improve something else, and it continues forever... so eventually at some point you will become the most awesome human being ever lived & worked? No, of course not!) This was a main factor that drove me into contracting in the first place.
Having said that, i'm trading off the hassle of having to constantly keep an eye on my business accounting stuffs, making sure p11d submitted, ensuring my PAYE is processed correctly, doing my VAT returns, self assessments, managing my expenses... list goes on... phew!
I guess all i need to do is manage my line management & not get too bogged down about the pointless behavioural stuffs & just try my best to focus on what i'm supposed to do in my job.
And the new perm package
When the numbers are written down we often see
650 a day 230 days a year outside IR35 == 150 K plus you can dividend and wife allowance it
90K a year with a 4% pension == 60K a year after tax
Which is crazyComment
-
Originally posted by LondonPM1 View PostWhat would be interesting to know is the old day rate and how many days you billed a year
And the new perm package
When the numbers are written down we often see
650 a day 230 days a year outside IR35 == 150 K plus you can dividend and wife allowance it
90K a year with a 4% pension == 60K a year after tax
Which is crazy
When you look at the 90k salary, you've assumed a poor case scenario. 4% pension as the only benefit would be unusual on 90k. And you've given no consideration to the value of sick pay.Comment
-
Originally posted by Old Greg View PostBut I think you've swung too far the other way. I expect it is a minority of contractors who consistently bill 230 day per year - most aim to work less and many have breaks between contracts. You've assumed near the top end here. Also, I'm not sure what % of contractors have a spouse where income splitting is tax beneficial. So again, you've assumed a good case scenario for the 650 pd.
When you look at the 90k salary, you've assumed a poor case scenario. 4% pension as the only benefit would be unusual on 90k. And you've given no consideration to the value of sick pay.
Sent from my iPhone using Contractor UK ForumComment
-
Originally posted by LondonPM1 View Post650 a day 230 days a year outside IR35 == 150 K plus you can dividend and wife allowance itComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment