Anyone Worried?

[DimPrawn]

Those that are struggling should really think about a plan b or a complete change of career. For the many, there isn't a lucrative future in IT, not in Boris's Buggered and Broken Britain anyway.

[Lance]

Those that are struggling should really think about a plan b or a complete change of career. For the many, there isn't a lucrative future, not in Boris's Buggered and Broken Britain anyway.

FTFY

[edison]

I have been contracting since 1988 with very few voids. This time around it has been over a year. First Brexit, then IR35, have both taken their toll on the market, the latter more so. So I have not been just sitting on my bum and contemplating my navel. I now have a business introducing people who need finance to the right people. Predominantly property related including BTL, Holiday Homes, Residential Mortgage and Re-Mortgage. Also development loans for you self builders out there. So feel free to get in touch if you need anything.
The point I am trying to make is that there are always opportunities out there if you look and although I have been in IT since 1973 it is never too late to take up new challenges outside of your normal world.

To paraphrase Harold Macmillan, "the most difficult thing about being a contractor has always been events, old boy, events."

Every few years there's some major business or political crisis - dot com boom, 9/11, sub prime financial crisis, Eurozone crisis, Brexit, Covid-19, the list goes on. And all that is in just 20 years.

What the pandemic is showing is that existing business and technology trends are being accelerated. Working in a field like IT, it's imperative you continually renew and update your skills because so much of what you learn will risk becoming obsolete in 5-10 years.

I can't think of any other field of work that consistently changes at this rate but the relative rewards for all this don't appear to be as good as in the past.

[elsergiovolador]

To paraphrase Harold Macmillan, "the most difficult thing about being a contractor has always been events, old boy, events."

Every few years there's some major business or political crisis - dot com boom, 9/11, sub prime financial crisis, Eurozone crisis, Brexit, Covid-19, the list goes on. And all that is in just 20 years.

What the pandemic is showing is that existing business and technology trends are being accelerated. Working in a field like IT, it's imperative you continually renew and update your skills because so much of what you learn will risk becoming obsolete in 5-10 years.

I can't think of any other field of work that consistently changes at this rate but the relative rewards for all this don't appear to be as good as in the past.

There is also huge lobby to take as much profit away from you as possible. Everyone is looking to pinch some of that hard earned money. The biggest leech is of course the taxman who thanks to the IR35 changes will be entitled to over 50% of what you make at current market rates and then you have multiple intermediaries, each wanting some of the fruits of your hard work.
At one point you realise there is no more sense in devoting time and energy into upskilling when most of the effects of that hard work will be enjoyed by people who didn't even lift a finger.

[jamesbrown]

There is also huge lobby to take as much profit away from you as possible. Everyone is looking to pinch some of that hard earned money. The biggest leech is of course the taxman who thanks to the IR35 changes will be entitled to over 50% of what you make at current market rates and then you have multiple intermediaries, each wanting some of the fruits of your hard work.
At one point you realise there is no more sense in devoting time and energy into upskilling when most of the effects of that hard work will be enjoyed by people who didn't even lift a finger.

Snooze. It isn’t IR35 that has killed your work prospects, it’s your low value skillset that is easily intermediated and replicated for less money.

[elsergiovolador]

Snooze. It isn’t IR35 that has killed your work prospects, it’s your low value skillset that is easily intermediated and replicated for less money.

That type of thinking is also part of the problem. Such divided group can be easily conquered. Let's wait when your high value unique and hard to replicate skillset... oh wait - does it mean that the client would need you to deliver the work personally? Enjoy being caught inside.

[jamesbrown]

That type of thinking is also part of the problem. Such divided group can be easily conquered. Let's wait when your high value unique and hard to replicate skillset... oh wait - does it mean that the client would need you to deliver the work personally? Enjoy being caught inside.

I forgot to mention lack of ambition. Many people in your position saw the writing on the wall years ago and got a permie position or upskilled. Offshoring, intermediating and IR35 are hardly new things and these things are not your problem. Your problem is you.

[elsergiovolador]

I forgot to mention lack of ambition. Many people in your position saw the writing on the wall years ago and got a permie position or upskilled. Offshoring, intermediating and IR35 are hardly new things and these things are not your problem. Your problem is you.

Do you believe that you have so great skills (and you will be able to provide substitute that will be equally skilled), that the client will happily bear the risk of investigation of their contracts and opening themselves to investigation?

Do you believe that people who have more common skills (and therefore they can easily find a substitute) and they don't have to deliver the work personally should be paying over 50% of taxes and shouldn't be able to deduct any legitimate business costs?

[jamesbrown]

Do you believe that you have so great skills (and you will be able to provide substitute that will be equally skilled), that the client will happily bear the risk of investigation of their contracts and opening themselves to investigation?

Do you believe that people who have more common skills (and therefore they can easily find a substitute) and they don't have to deliver the work personally should be paying over 50% of taxes and shouldn't be able to deduct any legitimate business costs?

I believe that you’ll be banging on about IR35 for all eternity while the rest of us deal with it.

[ladymuck]

I have been very lucky in my 15 years of contracting (yeah, I know, still a noob) but I have no illusions that I'm superior to anyone else. I've been in the right place at the right time, my face has fitted in certain environments, and I've made some good contacts with people who like the way I work. One day that will dry up and I don't know if that day will come on Tuesday when I'm having a 'catch up' with the person who brought me into their current client, or some time in the future.

I have always been open to going back to permie work; I just haven't needed to go down that path nor been magically presented with that £150k role that requires minimal effort and comes with final salary pension, 40 days holiday (+bank holidays) and other fluff.