Any day raters out there

DJ85

DJ85

DJ85

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Joined
14 Dec 2017
Posts
2,040
Location
Aberdeenshire
I'm currently employed by an oil company working on an oil rig, but they do not look after there people at all. I was looking into working for an agency and being a day rater offshore, are there any other people out there that do this? What do I need to do to kick-start it? I've contacted an agency and they said get in touch If I decide to leave but do I need to go self employed? Ltd? Any taxes to look out for etc
 
A few contractors on here, not sure how many are in that sector though - I know of a few (including myself) in the IT world who are contractors through a limited company.

There's a wealth of info on https://www.contractorcalculator.co.uk, but it makes sense to go Ltd if you're earning over a certain amount (can't remember the figure) - also need to take into account whether you'd need to be VAT registered.

Taxes - obvious one is self assessment, if you go Ltd then you have corporation tax to take into account and then any VAT duty if that's applicable too.
 
Thanks for the reply, we already have a ltd flooring company at the moment, but I assume that I would have to make a new one for this? better for tax purposes?
Basically we started a floor fitting company a year ago (in my wife's name) and its starting to grow to the point where I am having to turn down customers as I am always being sent away. (end goal is to quit offshore and do floors full time) but if I hand in my notice I still have my offshore tickets for 4 years and would make sense to use them day rating in any quiet spells I get.
Thanks for the website ill have a look into this today!
 
I would suggest you reach out to an accountant to discuss options, I really couldn't say if it's worth going through the existing one or setting up a new one.
 
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