Going Contracting

[peno]

Can someone give some advice on the issues to consider whether to leave a permanent position and to start contracting. Its something i'm starting to give a little consideration to.

To clarify the contract would be say a 6 month contract with a company.

Obviously the issues are perks given by the employer that you have to start funding yourself i.e. Pension - Sick Leave - Annual Leave - VHI

Are there other keys issues?

Is there a diffference in the PRSI that you pay - do you have to pay the portion that your employer used to pay - How much is that?

What are the differences if any in the income tax that you are required to pay.

Thanks for any replies.

 

[Satanta]

Obviously the issues are perks given by the employer that you have to start funding yourself i.e. Pension - Sick Leave - Annual Leave - VHI

Are there other keys issues?

To be honest, my main issue with it would be security, with the taxation issues being a far second.

I'm sure it varies by sector, but in my own area when there is any sort of blip/downturn, contractors are the first to go.

Obviously, if you feel you would be in a position to find a similiar position relatively fast or are secure that your contract position is safe enough to mitigate the risks for the potential rewards on offer it can still be a good option. In the current market, it's something I'd be very cautious of.

Sorry, can't help with the real query re taxation, but a search of the forum will turn up lots of previous threads which might be of benefit.