am i unemployed?

T

thebullmc

Guest
Hello to anyone taking the tme to read this,and thanks in advance.

I have worked in a family business for 12 years, full time. The business has been sold, and is closing in 3 weeks. So in 3 weeks i will be out of work, out of income.

Mean while, I have been givin a small share in a new company, and as a director of this company, I wont see any money for 12 months....and since its a new company, there wont be anything in it for 12 months anyway.

Basically, due to the new company, i am the benificery of a large debt, as I will have to wait 12 months, before i can draw my dividend, if any from the company.

What do I do mean while? Is my status "unemployed" or "employed"?

Will the tax office refuse to give me back my stamps, due to this new company, even though it has yet to turn a profit?

Thank you for your time.
 
Welcome to AAM, thebullmc, and sorry to hear about your bad news. I imagine you'd need to provide more detail about the nature of your previous employment (tax/PRSI/salary & other benefits) and the precise manner of your redundancy and your status as a director of the new company.

In the meantime, you may find some useful info on the Oasis website:
 
I presume that when you refer to Welfare giving you your stamps back you mean whether they will pay you Unemployment Benefit/Assistance?


If you satisfy the following criteria you are entitled to Unemployment Benefit assuming that you have got the necessary stamps (contributions):-

  • be fully or partly unemployed (i.e. at least 3 days within 6 days)
  • be looking for work
  • be capable of work
  • be available for full-time work and genuinely seeking work
  • be under age 66
  • have suffered a loss of employment, that is, you must have lost at least one day's employment including a loss of income.
Unemployment Benefit (UB) is based on your PRSI record.

It’s all explained in-
http://www.welfare.ie/schemes/unemp/ub.html
and you find Unemployment Assistance on the same site.

Your local Citizens Information Centre will explain matters in more detail if you require.
 
I guess its like this.

My parents, who were sole traders, have retired. I have been working full time for them for 13 years or so, but as it turns out ,am only on the books for the last 11. So thats 11 years as a full time worker 40h per week paying prsi ect.

I have redundancy coming, no problems there thank god, as i have a mort. to pay.


now ,i have friends who work for 2 or 3 years or so,and then take 6 months off , living on benifit,or stamp{what ever you like to call them} before returning to work in the likes of dell or apple.

I on the other hand have paid my dues for 11 years officially. Never once drawn the dole or anything else.{maybe 1 filling from the dentist}
surly i am entitled to some benifit, while i wait for this new venture which i have a share in to take off. The new venture wont be eqitable, or pay a divvi for 12 months and i have letters from banks, accountants stating this.

i just want to arm myself with information, rather than have some one in the soical welfare office, look at me funnily before shouting "next"
anyway guys, thank you for responding, and thanks for the links ect.
 
will you be working, building the new business for the next 12 months or would you be available to take on another job?

Not be harsh but it sounds like you believe that you deserve to live off the state for the next 12 months beacuse you paid your taxes? maybe I am just misreading it?
 
[You beat me to it Ontour, I was going to ask the same thing. I assumed that the OP intends to work in his business and so isn’t elegible for UB.]

It might seem a hard thing to say bullmc but no one is forcing you to work in that particular business and so the State is not obliged to bail you out while you are resolving your problems. Unemployment Benefit is designed to help people who are genuinely unemployed and need a dig-out while they are sorting themselves out. The fact that the scheme is open to abuse by dossers and scammers is totally irrelevant.

I’m not being critical of you. I greatly admire people who run their own businesses because many of us wouldn’t have jobs if they didn’t. Like all business-people though you have to be prepared to take the rough with the smooth. You’ll finish up driving a Beamer and owning a yacht someday I don’t doubt, and fair dos to you!

Have you thought of trying to re-schedule your debt or looking for funding or loans. I don’t know if there is anything of interest there in your situation but take a look at www.basis.ie and follow the links to Funding.
 
Hi Bull,

Correct me if Im wrong but this is the way I see your situation.

You have been an PAYE employee of a your parent's family firm and shortly before selling the firm you were made redundant.

You also have a share in (and are a director of) a small startup company. This company is unlikely to return a dividend for at least a year.

To restate ontours question:

Will you be working, building the new business for the next 12 months or would you be available to take on another job?
Click to expand...

If the new business does not need you then perhaps you might be better getting a job in Apple or Dell. And in the event of you failing to get employment availing of Social Welfare.

aj
 
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