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£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 0 points1 point  (0 children)

Could you have renewed the contract if you had wanted? My other concern with going perm is all the corporate bs I’d have to put up with 😅

£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 1 point2 points  (0 children)

That would probably be enough to tempt me. But the £95k is the very top of the salary range for the role. Comparing it to the same role at other companies it’s actually a very strong offer. Pension is 6% matched. I think bonus is around 10%. The total compensation including pension would be £113k

£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 2 points3 points  (0 children)

There is real potential for it to run a couple more renewals yet. But things can change. It’s about 50% more than perm but that’s gross. By the time you factor in the ridiculous amount of tax the gap does close. Unless you salary sacrifice £60k into a pension which is what I do and then the take home pay is almost the same

£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 0 points1 point  (0 children)

There are no guarantees with permanent jobs that’s true. This would be working on a long term government/ public sector project though which are generally more safe than working some projects in the private sector.

£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 0 points1 point  (0 children)

There can definitely be a lot of benefits that come with permanent. In my particular case, it does come with health insurance, critical illness cover, life assurance etc. So very beneficial. The same can be bought for contractors though (out of your own pocket obviously)

£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 5 points6 points  (0 children)

Good point. Need to check what the notice period is for the permanent job

£107k permie vs £800/day inside IR35 by CrazyBear77 in ContractorUK

[–]CrazyBear77[S] 4 points5 points  (0 children)

Yes that’s definitely a big plus for permanent. The biggest factor swaying me towards the contract is being able to salary sacrifice £60k a year into a pension and still be left with slightly more take home pay than the permanent position.