Will the OAP exist for me?

[GT03ROB]

PurpleTurtle said:

GT03ROB said:

PurpleTurtle said:

Yeah, legal but ...

... they don't get any paid holiday
... they don't get any sick pay
... they have to fund their own training
... they can be fired on a whim
... they don't get any redundancy pay
... they can't claim Jobseekers when they are fired, if they are seeking work in their field and their PSC happens to have a few quid in its coffers (probably earmarked for VAT or Corp Tax), despite contributing the full whack in NI (if inside IR35, like me)

So yeah, "some flakey excuse about risk".

Frankly a bit of a pension perk is the only thing I have to compensate for that risk.

paid holiday...... it's in your rate
sick pay ..... it's in your rate
training .... it's in your rate
fired on a whim ...... redundancy it's in your rate

get the pattern?

All of which in my higher compensatory rate is taxed at 40% (plus 13.8% Employer NI) natch.

So yeah, once all of that it taken into account, the risk is hardly 'flakey'.

Get the pattern?

Just as it is for a staffer.........

[bloomen]

It's a ponzi and one that's running out of steam. We've barely begun to be hit by the old age bomb. In 30-40 years it's going to be a shocker, especially when there are reduced numbers of dirty foreigners to tax. There probably will be government mincers by then that you can be lowered into for a straightforward demise.

[tighnamara]

GT03ROB said:

Same as those paying income tax via PAYE, virtually no way to avoid paying your share, whereas others can avoid picking up there share on some flakey excuse about being high risk taking contractors when they are actually employees in all bar name. It's legal, but.....

But it's not "all bar name" no holiday pay, no sick pay, no redundancy packages, no health care, no built in life insurance,no share save plans, no training to name but a few. Can be released with 7 days notice, so not all Rosie.
Benefits are good, you don't have internal politics to deal with but there are risks..........

It's up to individuals how they progress their career, know plenty of people in staff positions working expat who are making way more than anyone contracting at the same level due to tax free perks etc.
Down to individuals preference and how your career path has mapped itself over the years.

[sidicks]

tighnamara said:

But it's not "all bar name" no holiday pay, no sick pay, no redundancy packages, no health care, no built in life insurance,no share save plans, no training to name but a few. Can be released with 7 days notice, so not all Rosie.
Benefits are good, you don't have internal politics to deal with but there are risks..........

How many of those are provided by the government and hence relevant to the discussion (as far as tax is concerned)?

tighnamara said:

It's up to individuals how they progress their career, know plenty of people in staff positions working expat who are making way more than anyone contracting at the same level due to tax free perks etc.
Down to individuals preference and how your career path has mapped itself over the years.

Indeed, but paying (broadly) equivalent tax is entirely reasonable, given that government benefits are broadly equivalent!

[GT03ROB]

tighnamara said:

GT03ROB said:

Same as those paying income tax via PAYE, virtually no way to avoid paying your share, whereas others can avoid picking up there share on some flakey excuse about being high risk taking contractors when they are actually employees in all bar name. It's legal, but.....

But it's not "all bar name" no holiday pay, no sick pay, no redundancy packages, no health care, no built in life insurance,no share save plans, no training to name but a few. Can be released with 7 days notice, so not all Rosie.
Benefits are good, you don't have internal politics to deal with but there are risks..........

It's up to individuals how they progress their career, know plenty of people in staff positions working expat who are making way more than anyone contracting at the same level due to tax free perks etc.
Down to individuals preference and how your career path has mapped itself over the years.

There is holiday pay, there is sick pay, there is redundancy package, there is health care, etc., etc., it's in the firkin rate.

I know plenty of people working expat staff positions who are making way more than anyone contracting at the same level due to tax free perks.......... but you knew that, didn't you

[tighnamara]

GT03ROB said:

There is holiday pay, there is sick pay, there is redundancy package, there is health care, etc., etc., it's in the firkin rate.

I know plenty of people working expat staff positions who are making way more than anyone contracting at the same level due to tax free perks.......... but you knew that, didn't you

Exactly, it's each to their own.