kamakaze J
Registered User
- Messages
- 26
Hi,
I’m out of work 3 months, on temporary lay-off (i.e. not applied for redundancy yet) and currently on full JB.
As I can’t see there being any work in my previous employment for at least 6 months, this is the plan:
· Start up as sole-trader (hopefully approved under the short-term enterprise scheme)
· Become a Non-Proprietary Director (<15% shareholding) in a ltd co. My self-employed business may sub-contract elements of work to this for the first 9 months while i'm on STEA.
My queries are as follows:
1) Before I can start up do I have to get my P45 off my previous employer? (i.e. can I leave it on the off chance that the company turns things around and wants me back full time in which case I would shut down the self-employed business.)
2) I realise ‘A person is not allowed enter into paid employment as an employee either in a full-time or part-time capacity while on STEA’ However would the <15% shareholding affect the STEA if I was not getting paid by the ltd co. during the STEA period?
3) After the STEA is finished in 9 months, would I then be able to work in a part-time capacity for the ltd co and use any earnings from this company after this time against my PAYE credit for the year?
Appreciate any advice. Thanks.
I’m out of work 3 months, on temporary lay-off (i.e. not applied for redundancy yet) and currently on full JB.
As I can’t see there being any work in my previous employment for at least 6 months, this is the plan:
· Start up as sole-trader (hopefully approved under the short-term enterprise scheme)
· Become a Non-Proprietary Director (<15% shareholding) in a ltd co. My self-employed business may sub-contract elements of work to this for the first 9 months while i'm on STEA.
My queries are as follows:
1) Before I can start up do I have to get my P45 off my previous employer? (i.e. can I leave it on the off chance that the company turns things around and wants me back full time in which case I would shut down the self-employed business.)
2) I realise ‘A person is not allowed enter into paid employment as an employee either in a full-time or part-time capacity while on STEA’ However would the <15% shareholding affect the STEA if I was not getting paid by the ltd co. during the STEA period?
3) After the STEA is finished in 9 months, would I then be able to work in a part-time capacity for the ltd co and use any earnings from this company after this time against my PAYE credit for the year?
Appreciate any advice. Thanks.