Jump to content

Big job dilema...


Recommended Posts

I've been practially offered a 12 month contract for quote "Were looking between £500 and £600 maybe more as your such a strong match."

Question is, do I go for it...

I'm currently perm, admittedly looking to change jobs but I was looking for another perm role but this is very appealing.

Downside I see is going contract I could wait a couple of months before I get paid, which isnt exactly great timing. Other downside is even though it's 12 months contract I know they sometimes finish early... I've got rid of a few myself recently.

Upside is clearly the money. If I were to work for a solid year that would double my take home... albeit I would need to sort my own pension.

Any thoughts?

P.S. I didnt mention, my ultimate goal is Aus... This would build a nice little nest egg to help me on my way.

Link to comment
Share on other sites

Yup it's around 130k. But my current basic is around 75k + pension + banking perks and bonus... overall I guess I currently gross around 90-100.

Seems a lot I admit but London seems to be a money pit :|

For example adding my train fare, car parking and food/drink at work for the day costs me around 10k out of my salary. And I dont even want to talk about the mortgage...

I'm told theres less tax breaks now as a contractor but theres still the potential to pay less tax if your carefull.

I guess the question is... Do I take the risk for 30-35k (gross) a year... I'm currently asking some details like when would I have to start, when would I get my first lump of cash etc. etc.etc. so I have a little while to think about it.

Link to comment
Share on other sites

First question is what is the job - techy or a BA role?

Second question is, will the company be paying you or will the agency (if there is one)? With my contract, I submit a signed timesheet to the agency on the first Monday of the new month and they pay me directly into my (business) bank account on the Friday. They then receive payment from the company where I work as & when (not my problem though).

If you set up a simple limited co, you can put all your train fares, car park etc through that.

Pay yourself a small monthly salary and then just take divi's.

IR35 is all but dead, it just S660 you need to look out for smile.gif

Link to comment
Share on other sites

So what ur saying is you get paid by the agency, not by the company?

That makes me a bit more optimistic I must say.

As for train fares. I thought you couldnt claim for travelling to your 'normal place of work'?

Role is a team lead/architect. I have approx 16 years experience in system/product management in treasury trading systems.

I'm quite capable of performing BA/PM roles too...

Link to comment
Share on other sites

Yes, the agency pays me. However, I don't know if this is the norm or not but I can make some enquiries for you.

I would suggest that you speak to your agency to find out how they do things.

I pay my train fare, car park and the odd meal out under the company. You can also claim £15 pw for the use of a room in your house as an office (assuming you are going down the limited company route). Basically, I don't take the proverbial, with the intention of staying under the Revenue's radar smile.gif

There are others on here who can probably give you far better advice than I can on this sort of thing as they have been doing it a lot longer than I have and probably know more tax-effective ways of doing things.

From your perspective, its a hard call to make - you get a good salary combined with the other benefits I would assume that you also get (e.g. non-contributary pension, healthcare, sick pay, holiday pay, etc etc)

I'm glad I made the jump as I have a few different skills/systems on my CV that I wouldn't have had otherwise 169144-ok.gif

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...