Did somebody need some fireworks p!ssing on...
The following applies if you intend to work for one company for an
extended period of time, not if you're likely to have lots of
different clients.
General:
No pension
No holidays
No sick days
Limited job security
At work:
Fewer employee rights (depending on how long you work for the client)
and don't they know it.
You usually have to take any work offered, regardless of how crap it is.
After a while everybody gives you hassle at work because you earn more
than a permy doing the same job.l Even if it's not that much more they
think you earn a fortune.
You're everybodys' fall-guy, scapegoat, etc when things go wrong. Less
chance of getting senior permanent roles in the future due to your
contracting background (debateable, but my experience to date).
Running a ltd company:
Even with an accountant you still have to do quite a lot of
paperwork/filing.
Difficult to get a mortgage without 3 years accounts (unless you're willing
to compromise).
Dividends paid quarterly so you tend to live off an overdraft.
And lastly there's IR35......
Threaded Mode