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Setting Up a limited company while on temporary lay off??!!

  • 16-12-2010 9:55pm
    #1
    Mark O'Sullivan
    Closed Accounts Posts: 4 ✭


    i recently found out that i was going to be let go from my construction position and as a result i decided i was going to go out on my own.

    i went to my accountant and he is due to finalise the paperwork to set up the limited company which was to be set up a few days after i finished with my current employer.

    The snag with all this is my employer has given me an rp9 instead of an rp50 and has told me that he will have work again at the end of january. i would like to go out on my own though and am wondering if anyone could tell me will i still be able to claim redundancy if i go ahead and set up a limited company while im on temporary lay off


Comments

  • #2
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    First of all make sure you get your redundancy payment if entitled (i.e. worked more than 2 years).

    Does your accountant know that you are likely to become a PAYE worker again in weeks?

    It would be very strange to set up a company just for a few weeks. While I’d never say never to setting up a company (Due to my aversion to being sued!), it would seem very unusual in your case.


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