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The All Things IR35 Related Thread

Discussion in 'Careers, Employment and Professional Development' started by NVP, Aug 23, 2019.

  1. wonder_lander

    Soldato

    Joined: Oct 18, 2002

    Posts: 5,529

    Location: Stone, Staffordshire

    OK I'm not sure if you're trolling or not.

    IR35 is a very real piece of legislation with real consequence.
    Contractors should be taking it seriously and acknowledging how it will affect them post April but also be prepared if they've ignored it up to now.

    Having a card that says you're a contractor doesn't deal with the right to subsition, subervision/direction and control or mutuality of obligation aspects of the engagement
     
  2. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    Okey dokey.

    Listen, any real contractors out there working for banks heard anything from the higher ups at all?

    Thank you.
     
  3. wonder_lander

    Soldato

    Joined: Oct 18, 2002

    Posts: 5,529

    Location: Stone, Staffordshire

    Which bank, various banks have already stated their approaches. Some have decided not to engage contractors anymore, RBS are taking a more pro contractor approach to how they role out the change, suggesting how contractors can be best placed to be judged outside IR35. Again this has no bearing to how you may be assessed for a previous period. Making changes ahead of April will minimise the banks risk however the contractor would still be liable if they were incorrectly declairing their own status prior to that.

    https://www.larsenhowie.co.uk/knowledgehub/rbs-ir35-pro-contractor
     
  4. Shoza

    Gangster

    Joined: Jan 5, 2011

    Posts: 384

    If you’ve worked at the same place for 10 years you are an employee and should be taxed accordingly. Your firm should also pay the appropriate amount of employer contributions which will benefit you as well.
     
  5. DAIR

    Sgarrista

    Joined: Jul 23, 2009

    Posts: 8,862

    Location: Cayman Islands

    Unfortunately, this is true.

    Correct me if I'm wrong, but IR35 shouldn't make a difference to contractors, who have more than one client on the go.
     
  6. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 40,237

    Location: Aberdeenshire

    That depends on the contract terms and working practices.
     
  7. Throrik

    Wise Guy

    Joined: Sep 15, 2009

    Posts: 1,399

    Location: Manchester

    From everything I hear Financial Services are already pretty clear on reducing contractor numbers due to IR35, i'm currently working a role within IR35 and it's a pretty big hit but it is what it is.
     
  8. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    Yeah that's pretty much the first and only thing we've been told - but all it does is make it even harder for a uk contractor within the banking industry to find another job.

    If they need rotatable contractors as and when they'll go to ICT or Cap Gemini or any of the other Indian companies. But then they've lost the knowledge.
     
  9. dowie

    Caporegime

    Joined: Jan 29, 2008

    Posts: 47,092

    If you've been in the same place for 10 years then what is the point in you being a contractor? they might as well have taken you on as an employee - it isn't as though banks are incapable of paying a decent wedge for staff.
     
  10. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    Tell them that, I don't care as long as my wedge doesn't shrink. Actually I do, I can't stand giving performance reviews every year etc, so to be a permie and actually sit one myself? No thank you.


    I would have thought there would be loads of IT contractors who work in banking on this forum. Lame.
     
  11. Throrik

    Wise Guy

    Joined: Sep 15, 2009

    Posts: 1,399

    Location: Manchester

  12. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    Looking like the only way... unless we fight the power! LOOOL or my bank figures out a way of swapping internal companies every 6 months or whatever... plausible?

    Only industry I've worked in and built up quite a large knowledge base across many areas due to my involvement in the consolidation of other bank purchases over the last ten years. I don't really find it interesting, it is quite dull and easy, I started simply by joining a project which was merging two banks credit cards systems together, on a 3 month contract fresh out of uni pretty much - turns out I'm a natural compared to most the dinosaurs cashing in their daily and that's why I'm going strong after 3.5 more purchases, working across multiple UK sites with the odd European and American stints. That is also why I am aiming for director of IT within another 10 years fingers crossed. I'm good at what I do.

    [​IMG]
     
  13. dowie

    Caporegime

    Joined: Jan 29, 2008

    Posts: 47,092

    You can tell them yourself if you're actually worth the money. If you've spent 10 years in the same place then you ought to have made yourself pretty valuable/useful.

    They're potentially opportunities to make more $$$ and/or gear up to promote.

    I guess it depends, I get that some people would rather not progress vertically and want to instead deepen their technical skillset in which case contracting makes sense, but often you'd want to move around too if doing that?
     
  14. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    Ding ding we have a winner :) The key to contracting, I learnt that from the older English folk when I first started. Knowledge is power, and keep it to yourself.
    Man you should see this curve BS we have to conform too. Ridiculous.
    You can completely play the game as a contractor, in my industry anyway. Until you need to be a salary man (stole your term ;) )
     
  15. dowie

    Caporegime

    Joined: Jan 29, 2008

    Posts: 47,092

    You bad, bad man! :D

    I used to hate it when people did that when I first started at a previous firm - some old guy was a bit worried about his own job security and would keep everything close to his chest, different I guess as a contractor as you're not being paid to train others nor is it your problem if they're lacking.

    Personally I think it is better to share/help others as a permie though as playing the game there is being more of a team player, also if you get a little group you trust then you can help people in the group later on and vice versa, especially if you're training people up so you can move on etc...

    Yeah that is ridiculous - that aspect of performance review seems so flawed.

    :D

    Nothing wrong with being a salaryman IMO so long as you're a salaryman with a valuable skillset and are able to negotiate for a nice pay package and/or get employment elsewhere fairly rapidly.
     
  16. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    :) now no more about me please, sorry it has gone off topic - let's keep this about IR35 and any info people hear/want to share.
     
  17. Diagro

    Sgarrista

    Joined: Jun 3, 2012

    Posts: 9,085

    I'm happy I don't work with you
     
  18. NVP

    Soldato

    Joined: Sep 6, 2007

    Posts: 7,321

    Well that's not nice is it.
     
  19. Trifid

    Sgarrista

    Joined: Feb 18, 2006

    Posts: 8,296

    This.


    NVP, I know you are seeing IR35 as a threat to your take home and you are lashing out, but take a step back and consider very carefully. Are you really a contractor? From a outside perspective, 10 years is employment and the government wish to tax you on that basis.
     
  20. mid_gen

    Sgarrista

    Joined: Dec 20, 2004

    Posts: 9,563

    10 years at the same company....good luck convincing anyone you aren't inside IR35. You better get ready to start paying more, if you don't get let go when they reduce contractor numbers.

    I used to contract in financial services, including RBS for a while. Ridiculous gravy train tbh, I'm quite glad they're clamping down on it.