contract work advise

[alec1975]

Do i need to worry about IR35 or expenses if contracting under umbrella company?

[UpTheIron]

No (assuming they are a proper UK PAYE brolly), and again no, however be clear on what you are allowed to claim and don't trust any Brolly who says they will make you more or have 'dispensations'.

[UpTheIron]

And to echo other posters, I would not be ditching a £50k perm role in Suffolk (assuming you live there too) for £250/day. Not for financial reasons anyway.

Either you are way overpaid currently, or the contract role is too lowly or underpaid for you.

What is it you do?

Happy to offer as much advice as I can... speaking as a contractor of 15 years.

[Olivera]

£250 per day is a piss-poor and derisory rate.

[alec1975]

UpTheIron said:

And to echo other posters, I would not be ditching a £50k perm role in Suffolk (assuming you live there too) for £250/day. Not for financial reasons anyway.

Either you are way overpaid currently, or the contract role is too lowly or underpaid for you.

What is it you do?

Happy to offer as much advice as I can... speaking as a contractor of 15 years.

I am in IT (Software Developer).

I live in Berkshire and contract is near Brighton. My only concern is a long traveling though its a 6 month rolling contract.

Yes day rates are not that good.

[Olivera]

You need to factor in your pension and ~1 month paid holidays on top of your 50k per annum salary.

£250 per day minus travel expenses (and corporation tax, dividend tax etc) is probably going to result in you being no better off, but with a much more volatile working arrangement.

Avoid unless you can get a substantial increase in the day rate.

[Jakg]

alec1975 said:

This contract is near sussex.

Currently i am earning 50k in permanent role.

50k a year is an effective £215 a day.

£250 a day at PAYE would be £58k. Ignoring the contracting aspect for a second, would you switch jobs and get an 80 mile commute for £8k/15% extra?

[hornetrider]

This Brighton role is insanity. You live in Berks which is a hotbed of IT contracting and depending on your skills 350-600 is easily achievable and on your doorstep.

[alec1975]

Jakg said:

50k a year is an effective £215 a day.

£250 a day at PAYE would be £58k. Ignoring the contracting aspect for a second, would you switch jobs and get an 80 mile commute for £8k/15% extra?

50k (before tax) is £192 a day as per http://www.thesalarycalculator.co.uk/salary.php

[alec1975]

Olivera said:

You need to factor in your pension and ~1 month paid holidays on top of your 50k per annum salary.

£250 per day minus travel expenses (and corporation tax, dividend tax etc) is probably going to result in you being no better off, but with a much more volatile working arrangement.

Avoid unless you can get a substantial increase in the day rate.

Thanks