I'd love to go freelance.
Luckily here in the UK there is a thriving(ish) market in contract work. Short time, usually project-based, better paying than perm work. So far it's been quite fun.
Luckily here in the UK there is a thriving(ish) market in contract work. Short time, usually project-based, better paying than perm work. So far it's been quite fun.
0.5 * Previously Monthly Revenue <= $1200
so...
Previously Monthly Revenue <= $2400?
so...
Current Job <= $1200/month + Health Insurance?
If you're going to go contracting don't bother with an umbrella company! It's absolutely ridiculous how tax efficient you can be as a limited company (especially if you can set up you significant other as a director). You're looking at just under £40k per director completely free of personal tax and NI if you set it up right. You still have to pay corporation tax and some VAT on that amount and there's all the overhead of managing the company, but it's seriously worth it - especially with a good accountant!
I'm with SJD and yes, they still do have that horrid excel spreadsheet!
Love it.
(The idea is that if the company bills 100,000 pounds it pays corp tax of 20,000. Then the director can withdraw the profit of 80k as a dividend. Since a tax has already been paid on the 100k the 80k is free of income tax. However income tax is charged at two levels in the uk (25% and 40%). The govt says that the first level of 25% has already been paid (by corp tax at 20%). The 40% only kicks in at 43,000 a year - so you can as a director withdraw 43,000 as dividend and not pay "extra" tax on personal income.
The parent is suggesting your spouse can be a director and do the same, effectively making a 80k pa net household income on 100k revenue. (And if your are in a stable threesome it's even better :-)
If it is legal send me your accountants number - my mail is in the profile!
By the way we met at one of the find a tech job meet ups recently. I'm interested in your OSS in government idea. How about you drop me a line next time you're in the city? I'm ben at perurbis.com (no website yet)
And of course wasting no time plugging the Open Source campaign - http://www.oss4gov.org/manifesto
Cheers
I'm not affiliated with them, just a happy customer. You can read a bit about them in this interview http://elitebusinessmagazine.co.uk/interviews/item/a-waterco...
Disclaimer: They do also have an referral scheme, feel free to nudge me for my token if you're thinking of signing up (or don't, I'd still recommend them - referral voucher or not:)
I use Nixon Williams at the mo, who are more expensive but do seem to handle everything (i.e. tell me exactly what/when tax is due, things need to be signed etc etc)
As in a specialist looking for top notch talent or just a cv mover?
Mostly because I have never met one of the former ;-)
They are just CV movers but they often know key individuals within different companies and even provide kick backs. As slimy as they can be at times they have connections that a sterile CV in a pile of sterile CVs just can't have.
I then spent about two weeks telling people that no, I'm not interested in a perm role, and got work at about the end of week 3. (for reference I'm a server-side C/C++ programmer with an interest in crypto and about a decade's experience).
That's when I registered a company, bought domain names, got accountants (nixon williams, they specialise in this, seem to be ok so far) who handled tax registration etc etc.
-- edit --
happy to answer any further questions. I'm only about a year in and on my second contract.