Would I loose out?

Pam1

Hi, the firm I work for went bankrupt a few months ago and the assets were bought by the same directors + 1 other one. I have been with the company for over 20 years and they asked me if I wanted to stay with the new formed company. The new business is not doing well and I fear that they will make me redundant soon. I have been thinking of starting up my own business while still being employed by the ailing company but now I am worried that this might go against me when I claim redundancy payment through the National Insurance fund. The firm I work for will not have money to pay me any redundancy and as it is I am finding it hard to survive on what they pay me. Should I start my own business from home or should I wait till I am made redundant? I got the RP1 form in anticipation but it is not clear what they mean in chapter 8 (about self employed).

Sambucus_Nigra

Could you earn more in the intervening months between starting a new business and the time when you think you might be awarded a redundancy package? Why can't you do both at the same time?

Pam1

Hi, my question was: would I loose out on some redundancy money if I am capable of earning some money as self employed? I would like to start my own business as soon as possible at the same time as still working for my employer. Like with all businesses, it takes time to make money so I don't anticipate to earn much at first but I don't want the little that I make to delay or block any payments due to me through redundancy. Do you know the RP1 form, all is clear except the bit about self employment.