Hello, Im wanting some advice please. 5 weeks ago i got made redundant from the company that i had worked for,for 4 years,this was due to the company been insolvent,it was a small company..i got redundancy money .however my former boss called me up a few days ago,and told me that he had set up a new company and brand new name,and he was now a sole trader,he ask if i had found a new job,and if not would i be interested in working for him as a self employed administrator.. And as ive not yet found a new job,i accepted his offer..
My question is,would there be any implications on if id have to pay any redundancy money back,additionally how long a gap would i need to leave before returning to work doing a job role that i used to do,but this time it would be working for a company that has a new name,and id be self employed.but working for my former boss. im only trying to earn money for a living,but don't want to have any comeback from HMRC for doing so. any advice/ help would be greatly appreciated.
The redundancy payment is tax free. No reason why you should have to pay it back. As a self employed person you will be responsible for your own tax, so you'll need to fill in a tax return every year, and pay the tax.
Query the self employment status. If the hours and rate are dictated by the company it is not se. If se you do not get the protection of many employment laws re. Paid leave, sickness, maternity etc and be responsible for your own tax and ni.