Offered a Contract inside IR35 - The rate is decent but.....

Offered a Contract inside IR35 - The rate is decent but.....

Author
Discussion

HannsG

Original Poster:

3,031 posts

133 months

Saturday 20th October 2018
quotequote all
Am I stupid for accepting it? Massive project, good experience and a long stint.

Target on my back blah blah. Anyone here work under a IR35 contract?

How much %age wise would you say they cream off the top?


rustyuk

4,568 posts

210 months

Saturday 20th October 2018
quotequote all
If it's a great rate go for it. You are safer inside....

S6PNJ

5,158 posts

280 months

Saturday 20th October 2018
quotequote all
HannsG said:
Am I stupid for accepting it? Massive project, good experience and a long stint.

Target on my back blah blah. Anyone here work under a IR35 contract?

How much %age wise would you say they cream off the top?
Stupid? It all depends if you can get any work outside of IR35 easily - if so, possibly yes.

Not sure what you mean by a target on your back though?

I 'lose' about 33% to Income Tax and NI payments. The umbrella company I go through (I HAVE to go through an umbrella company but the choice is mine) takes £29.50 per week - a bit ouch!

I can recommend an umbrella co if you need one - PM incoming!

rustyuk

4,568 posts

210 months

Saturday 20th October 2018
quotequote all
I read somewhere last week HMRC have requested all public sector bodies to provide details of all contractors still working outside and all those who transferred to inside.

Who knows if it's true, though i doubt most PS Hr departments even know what ir35 is!!

deckster

9,630 posts

254 months

Sunday 21st October 2018
quotequote all
Much smaller target on your back being inside IR35 than outside.

At the end of the day it's all about the final take-home. If that's good enough then surely there's no issue - and, as has been said, being inside is in many ways easier than being outside.

Eric Mc

121,785 posts

264 months

Sunday 21st October 2018
quotequote all
Why not take you on as an employee?

Do you already have a personal service company?

Did you approach them on the assumption this would be an employment engagement?

Who suggested that you operate through a personal service company first - you or them?


HannsG

Original Poster:

3,031 posts

133 months

Sunday 21st October 2018
quotequote all
Eric Mc said:
Why not take you on as an employee?

Do you already have a personal service company?

Did you approach them on the assumption this would be an employment engagement?

Who suggested that you operate through a personal service company first - you or them?
I operate as a limited Company. I was approached by an agency

Eric Mc

121,785 posts

264 months

Sunday 21st October 2018
quotequote all
Would they have approached you as an individual?

Who will the prime contract be with, the agency or the organisation you are actually doing the work for?