voluntary redunancy?

[hunnybun1981]

i am 27 and have a chance of voluntary reduncancy package would be 20/25k. have been with company for 7/8 years.

i am young so my view is that i could pay of some debts and get another job even 3/6 months down the line, just not sure if it is the right way to go

also does anyone know r u entitled still to tax credits etc?

i have never claimed job seekers and i wouldnt be about too either tbh.

bit confused about your question.

i believe with redudancy your first 30 k is tax free, thereafter everything counts as normal earnings, so it should not effect tax credits.

but then dont you only get tax credits if you are working/bringing in a salary? so after a while it would dry up (and you cannot accumulate it i believe, iyswim).

if you take voluntary redundancy i understand you cannot claim job seekers, but i would check on that.

If you think you can find another job then i would go for it, a lot of people i know in a similar situation have found it very liberating!

you would still be entitled to family tax credit we both work and dont get the working tax credit element.

i wouldnt want to earn job seekers as i say its not something i believe in.

Depends on the local labour market and how fussy you are about only taking the right job.

You should also remember that you will be leaving a job where you have continuous service of more than one year and therefore enjoy protection from unfair dismissal etc. If you take VR and work elsewhere you will not have this employment protection and will be vulnerable, potentially.

A lot depends on your local labour market, your chance of re-employment and your skill-set. Once your debts are paid off, how much will be left? Will you have enough to live on if you don't find another job straight away?

yeh i would have enought to live on for a year i would make sure of it.

however there is any amount of jobs out there even if they are not in the field i am used to.

i am only part time at the minute anyway

sorry how can you say you don't believe in job seekers? It's a benefit, not an opinion what do you think you pay your NI contributions for?

If you're currently working part time then is the offer significantly more than you'd earn in the 3/6 months you're likely to be unemployed? If so, and you're happy that you can get work within that time period then go for it. If it'll take you two years to find a suitable job then you might need to ask yourself some additional questions like, after debts how much do we have to live on and can we afford to?

I don't think tax credits are likely to save you from a life of poverty if that's the only thing you'll be entitled to. I think the joint income has to be less than 44 or 45k before you can claim anything.

titchy its just the way i feel, where i am from there is plenty of jobs and even if i had to be a cleaner i would do that rather than be on the dole.

i am not saying anything against people on it, i just feel that if your fit to work and there r jobs available then thats what we should do.

i am sure if the government stopped the job seekers we would see a lot of the jobs fill up.

and tbh i would hate to say oh i have no job.

yeh
gingerninya it would be wAY MORE THAN what i earned in that time so it would be worth it i think

titchy its just the way i feel, where i am from there is plenty of jobs and even if i had to be a cleaner i would do that rather than be on the dole.

i am not saying anything against people on it, i just feel that if your fit to work and there r jobs available then thats what we should do.

i am sure if the government stopped the job seekers we would see a lot of the jobs fill up.

and tbh i would hate to say oh i have no job.

yeh
gingerninya it would be wAY MORE THAN what i earned in that time so it would be worth it i think

Go for it then, sounds like a win win to me if you can get something else you're happy with and walk away with a massive redundancy. Good luck