IT contractors 'must prepare for periods without pay'

IT contractors have been warned that they need to make preparations for the possibility of periods of sickness, holiday and time between contracts.
Contractor Calculator notes that IT contractors can often neglect to make provision for times without income when the money is coming in regularly.
Workers are reminded that no sick pay entitlement exists between a contractor and the client, so when infections do hit, it is important to have money set aside to cover overheads, the website notes.
In addition, IT contractors need to account for the possibility that they may be without work if economic conditions change around them.
"Having money saved up will not only provide you with a cash cushion, but will also mean you won't have to take the first offer that comes along," the site explains.
Earlier this week, the Recruitment & Employment Confederation revealed that temporary workers have been the first victims of the public spending cuts, with more than 120,000 roles lost in the last few months.
