A Choice A Choice
Page 1 of 2 12 LastLast
Posts 1 to 10 of 12

Thread: A Choice

  1. #1

    Nervous Newbie


    Join Date
    Mar 2020
    Posts
    4

    Default A Choice

    First off my apologies to anybody who is sat there without a contract - this might seem a like a trivial problem to have. After three months of no work myself I have just started a contract with a public organisation in London that is inside IR35 and means I have to umbrella up. Full WFH for 4.5 months and then who knows. Rate is bearable given it is WFH but I believe that the Inside IR35 thing is due to me gettting this contract through a tech consultancy who have stated their contracts have to be inside. I have a suspicion that other contracts on the project from other third party tech providers may be outside.

    I have also just been approached by a previous client with a three months outside IR35 contract WFH but for a good bit less.

    My choice is 4.5 months w govt\public organisation and therefore likely several extensions but all the time being pissed off about having to close my Ltd vs a three monther but at the moment nothing beyond that (specific project requirement) and I can work through my Ltd and keep it alive.

    Am I being too emotional in wanting to keep my company? Or should I just bin it, ride out the current storm (and the reintroduction of IR35 in April that might just tip the boat up yet again) in what should be a safe and possibly long term inside contract?

  2. #2

    bored now

    eek's Avatar
    Join Date
    Jun 2010
    Location
    😂
    Posts
    26,275

    Default

    Bin it - the odds of many contracts being outside IR35 after April is roughly zero as Covid has ensured there is a plentiful supply of contractors and no where near as much work.
    merely at clientco for the entertainment

  3. #3

    Default

    Do both


    Sent from my iPhone using Contractor UK Forum

  4. #4

    My post count is Majestic

    northernladuk's Avatar
    Join Date
    Mar 2009
    Posts
    44,548

    Default

    Keep the one you've got. We've got another guy on here right now that's quit one job and the gig they were hopping to has disappeared so if that isn't enough of a reason to stay I don't know what it is.
    Govt work is nice and slow so could be nice long one.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  5. #5

    Super poster

    nomadd's Avatar
    Join Date
    Jun 2009
    Location
    Location. Location!
    Posts
    2,983

    Default

    Quote Originally Posted by GhostofTarbera View Post
    Do both
    ..Or sub-contract the outside IR35 one to one of the desperate "I'll take anything" types around here. Should be able to make a fortune as an agent these days..
    nomadd liked this post

  6. #6

    Nice But Dim

    DaveB's Avatar
    Join Date
    Oct 2005
    Posts
    20,658

    Default

    If you think you can juggle the workload do both.

    Live on the money from the inside gig, keep the money from the outside one in the company for when you need it.

    Running multiple clients is hard work but worth it if you can manage it, full time WFH makes it easier so take advantage while you can.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

  7. #7

    Nervous Newbie


    Join Date
    Mar 2020
    Posts
    4

    Default

    Thanks guys for your input. It has helped solidify my mind which was probably going in this direction anyway.

    I had thought briefly, briefly about doing both but couldn't do that. I am honest and therefore not an overly successful businessman so I will be closing my company and picking the safer, govt job option. Been fun while it lasted but that is the future we seem to have been served up.

  8. #8

    Still gathering requirements...


    Join Date
    Feb 2017
    Location
    Wales....Land of God, Sheep, Song and f*&k all coal :-(
    Posts
    75

    Default

    Quote Originally Posted by Grah View Post
    Thanks guys for your input. It has helped solidify my mind which was probably going in this direction anyway.

    I had thought briefly, briefly about doing both but couldn't do that. I am honest and therefore not an overly successful businessman so I will be closing my company and picking the safer, govt job option. Been fun while it lasted but that is the future we seem to have been served up.
    Why close your Ltd, couldn't you just let it lie dormant while in the inside IR35 role? My accountant offers a discount if you need to go inside IR35 for a while and he doesn't have to do as much work for your Ltd. - might be worth asking yours' for the same?

  9. #9

    Default

    Quote Originally Posted by David71 View Post
    Why close your Ltd, couldn't you just let it lie dormant while in the inside IR35 role? My accountant offers a discount if you need to go inside IR35 for a while and he doesn't have to do as much work for your Ltd. - might be worth asking yours' for the same?
    Indeed his contract could get canned next week


    Sent from my iPhone using Contractor UK Forum

  10. #10

    Fingers like lightning


    Join Date
    Aug 2013
    Posts
    670

    Default

    Quote Originally Posted by nomadd View Post
    ..Or sub-contract the outside IR35 one to one of the desperate "I'll take anything" types around here. Should be able to make a fortune as an agent these days..
    Yep, great if you can make this work. A family relative has been doing this with several sub-contractors during Covid and his margin is over 60% in one case.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •