Contracting Advice (Engineer)
 

I've finally taken the plunge and applied for a good contracting role at a big engineering company. After my interview yesterday they have offered me a job which is awesome.

Does anyone contract at the moment? I just wondered if there's a few things I need to be aware of ie common pitfalls when setting everything up? I've just got a limited company but need to do the other stuff ie public liability PI stuff

Thanks

This is a good place to go: Contractor UK Bulletin Board thet'll tear you apart for not doing your homework though.

A lot of people just think contracting means more money than perm.
That's not always the case with bench time (Time you're not working in between contracts) & all the other things which are included in the package of a perm role.

Ultimately you're a director of a company and you are fully responsible for it.
There is some legislation called IR35. You should become fully aware of this and it's implications.

I like contracting because I feel I'm not tied to a role. Contracting done right, is generally about meeting a set objective to have deliverables. I can't stand the BS that comes in most perm jobs, like appraisals and having to suck someones dick.

That said a lot of contracts in IT are disguised perm roles. I am not interested in these even if the money is good.

Cheers Mark, I'll take a look at that forum later. Im aware there's a lot to do. I have a few friends who are contracting at BAe who've been really supportive. That IR35 keeps being mentioned by everyone I talk to lol

It seems there are a few risks to contracting ie no holiday pay pension shorter notice period etc but the pros seem to outweigh these which is why I'm guessing you do it, ie, more money and much more freedom which can be so hard to find in today's job market.

Overall I'm really looking forwards to the challenge as now seems a good time to be assertive and make the jump even although I'm currently a bit apprehensive as it seems like there is so much stuff to sort out before I start.

I've got a contract with the agent who have a contract with the engineering company which I've heard is normal but apparently I need to make sure it's a day or hourly contract as opposed to being salaried with the agent so they cream loads of margin. What a minefield.