IT Contracting - anyone here do it?

[DanielJames]

Afternoon all,

While I'm still fairly young and don't have many responsibilities at home I'd like to explore the IT Contracting world.

The main reason for interest is that I've seen first hand just how much can be made, when my company employed the services of 6 contractors last year.

I understand the work is unreliable, and working on a 24h notice period will be interesting, but does anyone on here do this type of work and how does it go?

I'll be looking for mainly service desk/1st/2nd line tech support roles.

Interested to know if anyone does, or did do this.

Thanks
Dan

[DanielJames]

I think I'll do fine on the mentality side - I don't have many financial commitments at all.

I was speaking to a guy I used to work with about this and he told me to avoid the umbrella companies and just set up my own LTD company.

Do you lot use umbrellas?

[DanielJames]

Might it be worth going umbrella until I decide if I like it or not then, seems so

[DanielJames]

Wow, thanks for all the replies all.

Since not being at work I've not been on PH as much but just read through the replies and I'm dead cert on getting into it now!

I've registered with a few companies of which I've dealt with before, Modis, Certes and Morson. Anyone have any other recommendations?

I don't really want to go to London for the living costs, I heard the other day that Leeds was the IT capital of the UK now anyway (don't quote me on that!) But I am seeing a lot of jobs in Leeds, which is an easy commute for me.

[DanielJames]

Update:

After 5 weeks of doing not a lot, I've managed to get myself a contract. It's local too, and the pay is better than I thought!

Now, Umbrella companies. Can anyone recommend an good online one to use?

[DanielJames]

I've gone with Nasa consulting for the Umbrella. Recommended by an old friend. Start the contract tomorrow, can't wait!

[DanielJames]

So today marks the start of my 6th week here. Really enjoyed it to be honest.

I've got a permanent job starting on the 15th of Oct, so will be hanging up my contracting gloves on the 10th.

The gap inbetween shall be spent at the Nurburgring!

Overall the experience has been good, the only downfall is actually getting paid. My Umbrella company Nasa are brilliant, but the company I'm working for's finance department are very slow on getting payments sent. I'm meant to be on weekly pay and so far have only had pay from the first 2 weeks... I'm not struggling financially so maybe they're doing me a favour if I get the cash in one lump!

[DanielJames]

bigandclever said:

Have your umbrella explained the consequences for any travel expenses claims you have, considering this will be your only gig? Big assumption you are claiming, of course

Nope, please explain? I was told to claim my mileage at around £12 per day, and meal allowance at £10 per day, but not entirely sure where that money goes. Tax reduction isn't it?

[DanielJames]

oilslick said:

Umbrellas operate overarching contracts of employment. If you're only intending on undertaking one assignment under that contract then you're not entitled to claim any subsistence or travel expenses as HMRC consider it a permanent workplace.

Further details on page 3 on the link below:

https://www.professionalpassport.com/pdfs/Contract...

I suggest you talk to your umbrella company!

I will call them tomorrow, thanks for bringing this to my attention!

[DanielJames]

Well I'm back into permanent employment. If I was going to contract again I'd definitely go self employed/LTD compay route. I cant help but think the Umbrella company have screwed me a bit.

For example I've just been paid for my final 2 weeks, £150 a day so £1500 total. I received £840 from that.

What I perhaps underestimated is how sneeky you need to be to make it worthwhile with regard to expenses, and that I would need to pay not just my own NI but also that of the employer.