Between the potential extension of unpopular legislation and sweeping political and economic change, certainty is a rare commodity in the contracting world at the moment. This backdrop can make the daily challenges of life as a contractor seem more difficult than they normally would. You might even catch yourself, in dark moments when you’re alone with your thoughts, considering a permanent role.
You’ve been offered a permanent role on a salary you think is too good to be true…what do you do? Well for many, the lure of the apparent big salary is not enough to make them turn their back on their established brand, the autonomy and freedom they have enjoyed as a contractor. But if you find yourself considering this option there are a few financial implications to consider…
It’s no secret that the UK education system relies heavily on supply teaching agencies to source and deploy high quality teaching staff at short notice. Over 2 million teaching days were lost to sickness during academic year 2016/17, and most of those days will have been covered by supply teachers.
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Being employed by an umbrella company remains the best option for most supply teachers, but all umbrella companies are not equal. The industry still contains unscrupulous companies who are willing to exploit supply teachers and put them, and any recruiter working with them, at risk of investigation, prosecution and financial ruin at the hands of HMRC.
Mention IR35 in certain circles and you’re likely to tap into an unexpected world of anxiety and frustration. The spectre of private sector reform is looming, it seems, over any business that engages contractors and the memory of public sector chaos is not far away, feeding the fear. While reform in the private sector may not yet be inevitable, it is clear that immediate action is necessary. Clients and contractors alike need to prepare, if they are to weather the coming storm.
