About to Jump

[Beat]

Hi,

In recent weeks my world of being a 'Permie' has been turned upside down by an offer to go IT Contracting in Belgium and I am now at my first major crossroads.

The idea of contracting has always appealed to me and although I wasn't actively looking, the feeling to 'change path' was getting stronger.
I've had a pretty unorthodox career path, self employed Trading on Risk markets from 2005. I then went into full time employment in 2012 and have developed a wide range of IT and Business Process skills to compliment my Data, Probability and Risk Management skills nurtured by Trading.

Career wise and Financially this move seems to make sense although obviously there is an obvious risk in making this jump. Especially as its in Europe!

I have had a good dig around the forum and in particular this thread on setting up in Belgium. .

http://forums.contractoruk.com/accou...-security.html

I will continue to investigate my options and consider the impacts. My Decision has not yet been made but I thought at least I could introduce myself here before I start asking questions around the forum.

Thanks,

Beat

[cojak]

About to Jump

Welcome to CUK Beat

Take a look at this http://forums.contractoruk.com/showthread.php?t=48973

[stek]

Welcome to CUK Beat

Take a look at this Contracting in Belgium - A Short Guide to Tax and Social Security

He already did......

[northernladuk]

Remember the second gig is the hardest. It's nice and easy when one falls in your lap while you are working perm. The second you need to get while on the bench with no income coming in. If you don't have a warchest to tide you over it could be a very uncomfortable time.

We work in short term gigs. You have to expect it won't last past the first three months or whatever the term is. You can't assume you will be there for a long time and that you will get extended.

Look at the bigger picture, not just the gig in hand.

[Beat]

Thanks,

Ive considered worst case scenario after 9M and feel i could cope 'on the bench' if it came to that. I have confidence with my skillset and target market but yes i agree managing expectation is something i must be aware of.

The biggest unknown for me is being away from home, unfamiliar rules, ways of living and culture. Settling into a "home from home" quickly is a priority closely followed by building a solid network of friends and colleagues. Also a bit of luck along the way would be a bonus!

Anyhow im enjoying CUK Forum and site, loads of useful info and debate to aid this big decision.

[MrMarkyMark]

Ive considered worst case scenario after 9M and feel i could cope 'on the bench' if it came to that.

Errrrrrm, you haven't at all, worse case scenarios are not starting at all, or getting canned a month or two in, when you may have invested money on accommodation.

Don't ever assume a contract will last the full term.
Have you got good personal cash reserves?

[stek]

Thanks,

Ive considered worst case scenario after 9M and feel i could cope 'on the bench' if it came to that. I have confidence with my skillset and target market but yes i agree managing expectation is something i must be aware of.

The biggest unknown for me is being away from home, unfamiliar rules, ways of living and culture. Settling into a "home from home" quickly is a priority closely followed by building a solid network of friends and colleagues. Also a bit of luck along the way would be a bonus!

Anyhow im enjoying CUK Forum and site, loads of useful info and debate to aid this big decision.

How are you gonna deal with Belgian tax as tax resident there?

[Beat]

Errrrrrm, you haven't at all, worse case scenarios are not starting at all, or getting canned a month or two in, when you may have invested money on accommodation.

Don't ever assume a contract will last the full term.
Have you got good personal cash reserves?

Ok that's fair, so without a full blown story of my situation I can see how my previous comment was green. I appreciate you highlighting what could be the reality. If my judgement is wrong, I will not shy away from admission so that other cubs can learn. I'll let you guys know how things progress.

[malvolio]

Ok that's fair, so without a full blown story of my situation I can see how my previous comment was green. I appreciate you highlighting what could be the reality. If my judgement is wrong, I will not shy away from admission so that other cubs can learn. I'll let you guys know how things progress.

Three key things every newbie contractor should know:

1. You will only work 7 months a year on average and you don't have a notice period
2. You no longer have a career to keep you up to date so you have to do it for yourself, and
3. Your job is being a contractor, not whatever it is you do for your client to get paid, so be good at it

HTH

[Beat]

How are you gonna deal with Belgian tax as tax resident there?

I have taken advice from both a UK and Belgian account on this. The link to 'Contracting in Belgium' mentioned above feels grey and contradictory so I'm trusting in professional advice where both sides agree. The fact that thing are not clear on the web does concern me though I must admit.