my advice: Do it! i switched just over a year ago and its the best decision i ever made. 1. in terms of money, i was bringing in £30k at my last perm job, went from that to a 6 month contract that worked out at approx £78k per year and from that to a £100k+ its best to set up your own limited company and put the income through that. you invoice (+vat) then take that income, pay your expenses (including VAT) out of it and what is left (the company profits) gets taxed @ 20%. Then you pay yourself a minimal salary (normally 7-10k) just to make sure the government still gives you a pension and the rest is paid as share dividends (which don't incur NI etc) with the 20% corp tax you pay on your company profits comes a 10% personal tax credit which means you pay 10% less income tax on the money from dividends. income is taxed as 7k tax free, 35k @ 10%, then its 35% until you hit 150k so with the 10% credit you only pay income tax on income above 42k (and thats at 25%) personally i dont need 42k per year so i dont pay income tax and leave the remainder of my profits in the company, these funds are then used to buy property which the company rents out 2. I would suggest you go for the whole 'sit in the office and be part of the team' style, (although you have to be careful with IR35 witht his style on contract). The market is very buoyant in the UK for this kind of work atm, whereas a friend who tried freelancing from home struggled to find work 3. no idea One thing that a lot of people said to me when i was making the move is that they would be concerned about job security, most contracts have 2-4 week notice period so you can find yourself unemployed from a perm job in just as short a time as a contract (i.e. job security is a myth) .. the difference is that, at the rate of my first contract, i only had to find work for 4 months of the year to break even with my last perm position ... frankly, if i cant find more than 4 months in a year, its probably time to change jobs anyway ;) contract took me from 'treat myself to a chocolate bar once every other month' to 'driving a brand new jag' ..... definately do it :D
Pedis ex oris Quidquid latine dictum sit, altum sonatur