What are your clients doing with IR35 reform? What are your clients doing with IR35 reform? - Page 10
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  1. #91

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    Quote Originally Posted by JoJoGabor View Post
    I was referring to time to go it alone and setup a true consultancy with a few others. We would all be directors, with some salary, some bonus depending on billing rate and some dividends is my initial thought.
    I've been thinking about this as an option..however..

    Quote Originally Posted by northernladuk View Post
    Commonly known as a clusterf**k
    Would appreciate if you could explain the downside?

  2. #92

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    Quote Originally Posted by BABABlackSheep View Post
    Would appreciate if you could explain the downside?
    Work on the upsides first. If you can find one that makes it work I'll come up with few downsides. The assumption is you are talking about a group of contractors here BTW...

    Have you seen any of these actually work? The Public Sector changes have been in place for quite awhile now and the same setup should have worked for them.. but hasn't. Speaks volumes.
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  3. #93

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    Quote Originally Posted by northernladuk View Post
    Have you seen any of these actually work? The Public Sector changes have been in place for quite awhile now and the same setup should have worked for them.. but hasn't. Speaks volumes.
    It can work, but needs a commitment and has some risk. A former colleague and I set up a company after the client (software house) we worked for went bust. We picked up some of their clients and grew the company slowly. We were perhaps fortunate that we focussed around what was, at the time, a niche technology, and were eventually bought out by the technology provider to form their in-house professional services arm.

    What made it work was that we had some capital behind us, so accepted minimal wages as we grew, and we hired other consultants on low-wages and a, on their side, trust that things would get better. This was just after the .com bust too, and times are different now...

    It would be a lot more difficult to get, say, 5 contractors each expecting £500/day together working on different clients to get together and form a "true" consultancy.

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