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Urgent contracting Advice!!!

  • 28-07-2006 1:44pm
    #1
    les_steaks
    Closed Accounts Posts: 108 ✭✭


    Hi, I'm a VB programmer with 5-6 years experience in the Life and Pensions industry. For the past while I've toyed with the idea of contracting.

    I'm in permanent employment earning 43k. I've just been offered a 3-month contract for 320 euro/day. They want me to sign asap so I need to make up my mind. What worries me is that its a short contract, they said there'd be a good cahnce of renewal but of course no guarantees but agency said there's a lot available.

    What would you advise?

    I know nothing about contracting really i.e., tax etc..

    If I register as a sole trader/ limited company how much tax should I put away each month (roughly), 42%?

    What can I claim VAT back against?

    As I said need to make my mind up fairly quick so any advice is much appreciated.

    Cheers,

    Les


Comments

  • #2
    fatboypee
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭fatboypee


    Hey Les,

    Who is pushing you to make up your mind ? The agency or company ?

    f its the Agency and you really dont think the company are pushing them then dont take the pressure, tell them you will call them early on Monday with your decision. Take your time & be sure you wanna jump.

    Taxwise, you have a month or so to get sorted, best thing to do is get hold of a tax adviser ASAP and see what your options are....

    VatWise you can calim all number of things and expense a number of things from travel & living to laptops etc, again tax adviser is your best bet..

    Think more about whether you want to do it, if you do, sign the papers and work the other stuff out as you go. Don't worry too much about it, it will all work itself out...

    I loved contracting and if the steady stream of work ever got close enough for me to commute, I'd jump in with both feet !

    My only advice would be to work for the hours you are being paid and do not be afraid to be clinical about overtime, extra work etc. Its your business now and you need to see working for people in that way...

    FBP.


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