I've been contracting for two years now, and I agree with the majority of what you said. (UK here)
However, I've recently started considering returning to permanent, primarily for one reason. At the age of 50, half of which has been in a software development career, I find being a code-monkey -- even a senior one -- quite unsatisfying. I would like to return to leadership roles I had while I was permanent, but they are nearly impossible to find as contracts.
Contract PM roles tend to be axe-men -- you're there to kick people and crack whips because you're not part of the org and don't have to worry about future interactions or consequences. Also makes it easy to shoehorn in new ideas and break out of groupthink, which is necessary for big orgs, IMO.
Plus you're gone when the project or milestone is completed, instead of having to worry about finding another role or laying you off.
I've been doing it for 10 years now, and that hasn't really been my experience. Sometimes you might have to push, but you should be doing that as a permanent PM anyway.
You can sometimes have to leave when the project is completed, but more often than not they have a new project kicking off.
Hi, for someone who is interested in starting contracting in UK, what should one know about taxes? Did you have to create a limited company? Could you please advise
Thank you.
You don't have to make a limited company but it might be necessary for some contracts. You might also have to carry insurance. An umbralla company might also be appropriate for you, especially if you're not 100% sure. It has been a few years since I quit contracting (to start my own company) so some of this stuff might be old.
Definitely read about IR35 and how it might affect you.
In all cases, an accountant can answer these questions for you, even if you're not sure you want to commit.
However, I've recently started considering returning to permanent, primarily for one reason. At the age of 50, half of which has been in a software development career, I find being a code-monkey -- even a senior one -- quite unsatisfying. I would like to return to leadership roles I had while I was permanent, but they are nearly impossible to find as contracts.