Consultancy/freelance work

[baargain]

Because your hourly rate has to cover the equivalent of sick pay, pension contributions, annual leave, ongoing training, equipment, any other expenses related to your role, and taxes.

My hourly rate is between £75 and 90. I didn't get that hourly rate in the NHS, but I did get all of the above benefits.

[Kenickie]

I don't know what multiples to use, but it should be more than your day rate at an employee to cover all the loss of benefits, no guaranteed work etc.

Maybe £400 a day as that puts you in-between your employed day rate and what the instructors charge?

[Arrietty]

How much does your hairdresser charge per hour? Hmm?

[Derek Nimmo]

Because your hourly rate has to cover the equivalent of sick pay, pension contributions, annual leave, ongoing training, equipment, any other expenses related to your role, and taxes.

My hourly rate is between £75 and 90. I didn't get that hourly rate in the NHS, but I did get all of the above benefits.

All of the above, plus the fact that they're paying for the convenience of having a contractor who can drop straight into the business and have a short notice period.

I think I mentioned this at the start of the thread, but in recruitment the standard rule of thumb used to be that contractors charge at least 1.5x what their full time salary would be.

[Lily]

My hairdresser has to buy products and pay for his training, pay for his "chair", etc. But I do need to up my value and it's true that I am convenient. Ideally I'll be PAYE rather than self-employed if I work for them, as I am so bad with numbers I dread the thought of having to sort my own tax, etc. - plus I know how often HMRC mess it up. They've just told me I'm due a tax rebate of £700 but I'm sure that can't be right so I'm going to call them tomorrow.