[Closed] Contracting Daily Rate

Don't forget employers contributions for your pension too

In what field?

The money and rates vary massively. My last period doing independent contract stuff was rather lucrative, I must say! 🙂

A lot of umrbrella companies have colculators on their websites. You may not use an umbrella but you can get an idea.

An umbrella company can be good for tax purposes if doing it for a short term and it will show as you being employed and not self employed. Also if working a descent distance from home the tax benefits can mount up.

I was also a lot better off contracting and had time to make extra money doing other stuff which was all extra on top of a good wage but it depends on your field ultimately.

You will get a better rate contacting the employer direct too and missing out on the agency middle man

I went contracting a couple of years back and used an umbrella company. They provide calculators on what your take home pay might be, based on claiming expenses against your tax. It's not as lucrative as setting up on your own, but I preferred to pay my tax via PAYE.

Make sure you research them though, as I did sign up to a one that went belly up and took thousands of my pounds with it. The directors managed to setup another very similar company.

[i]Following redundancy i'll probably be contracting for a while.[/i]

Hmm, not sure if you've noticed but 2008 was a few years ago.

FWIW In my last contract I got the same rate as I'd got for my first, except over 10 years apart... And now back perm, on the same salary as 18 years ago 🙂

And always with my own Ltd company.

itjobswatch
ir35calc

from what I've seen the market is quiet for contract at the moment, looks like perms are back in favour. Depends on your skills though