I am thinking of contracting, but do not know how to compare contract (inside and outside IR35) with permanent rates, within the United Kingdom (specifically England).
So far I have considered:
That on a permanent contract I worked 5days a week (37.5hours/week), less 25 days holiday and 8 days public holiday.
There are then the different tax schemes.
As a contractor I have to pay employers national insurance at x%
Then there is a 5% something if I am inside IR34.
And expenses, some like mileage have nothing to do with the contract, but are related to permanence of place of work.
Is this correct, and can you help with making it clearer and simpler?