Help with contracting - Umbrella company etc
Discussion
Hi guys,
Looks like I might be doing some contracting for the first time soon.
I've never done this so looking for a bit of advice on how to set it up!
I've read 'Umbrella' companies might be a way to go but still a bit confused on that and how they differ from an 'agency', also heard I could go down the PAYE route, effectively being employed by an agency?
I want to work out a take home pay percentage before I enter discussions with my potential client on my hourly rate. (I have found the employer through contacts myself).
Also, what would be your advice on negotiating a rate? In my field anywhere between £16 - £25 an hour looks possible, the work may not be full time.
much appreciated
DL
Looks like I might be doing some contracting for the first time soon.
I've never done this so looking for a bit of advice on how to set it up!
I've read 'Umbrella' companies might be a way to go but still a bit confused on that and how they differ from an 'agency', also heard I could go down the PAYE route, effectively being employed by an agency?
I want to work out a take home pay percentage before I enter discussions with my potential client on my hourly rate. (I have found the employer through contacts myself).
Also, what would be your advice on negotiating a rate? In my field anywhere between £16 - £25 an hour looks possible, the work may not be full time.
much appreciated
DL
I did contracting a while ago and used Contractor Umbrella
www.contractorumbrella.co.uk
They have a calculator function to work out your weekly or monthly take home and clearly show deductions and their fees.
www.contractorumbrella.co.uk
They have a calculator function to work out your weekly or monthly take home and clearly show deductions and their fees.
davislove said:
I want to work out a take home pay percentage before I enter discussions with my potential client on my hourly rate. (I have found the employer through contacts myself).
When you call a plumber round, does he discuss his 'take home pay' with you when quoting for the job?
Understand your market rates (which you appear to have done). Are hourly rates or day rates more usual? Will you be charging for costs, e.g. travel, or is your price all inclusive? Some businesses prefer one or the other depending how their accounts work.
Decide how good you are within the industry spread and bid. Start higher than where you'd like to end up too; too many newbies slash their rates out of desperation and live to regret it.
Grey Ghost said:
I did contracting a while ago and used Contractor Umbrella
www.contractorumbrella.co.uk
They have a calculator function to work out your weekly or monthly take home and clearly show deductions and their fees.
cheers they look like a good un, will make contactwww.contractorumbrella.co.uk
They have a calculator function to work out your weekly or monthly take home and clearly show deductions and their fees.
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