Expecting a reduction in Notice Period Pay

Mikey40

Afternoon everyone, just seeing if I can get some clarification on this excellent forum to a couple of issues resulting from a recent redundancy, might come across as a bit muddled but please bear with! After 23 years I've just been made redundant, been through the claims procedure online of sorting redundancy pay etc, and am expecting said redundancy pay in the next couple of days apparently. Along with the day job I have also had my own business for the past 3 years, which I've been running on and off, mainly off for the past 2 years due to family and healthy issues, the plan is now, especially in the short term, is to concentrate on building this business up and to see if I can make a success of it, as after 20 odd years of working for somebody else, I really want to give working for myself a good try. My redundancy pay is pencilled in to help over the next 6-8 months, with both paying the bills and using to fund the business, along with some small savings I have built up over the past 2+ years as was half expecting the redundancy to come. So I'm not actively looking for a new job at the moment all my time is spent with building the business up, so I haven't registered as unemployed and I'm not claiming JSA. Am I right in thinking that this will affect my Notice Period pay from the Redundancy Payment Service after my 3 month notice period is up, i.e. I won't get the full amount unless I'm looking for work or claiming benefit? And I suppose the other question is it worth registering unemployed and claiming any benefits due me, even though I'm earning peanuts at the moment from my business I'm registered self-employed etc, would I get anything anyway? Any help, tips etc would be most appreciated.

antrobus

Mikey40 wrote: »

.... So I'm not actively looking for a new job at the moment all my time is spent with building the business up, so I haven't registered as unemployed and I'm not claiming JSA. Am I right in thinking that this will affect my Notice Period pay from the Redundancy Payment Service after my 3 month notice period is up, i.e. I won't get the full amount unless I'm looking for work or claiming benefit? ....

You notice period will be specified in your contract of employment. It has sod all to do with what you decide to do after your employment has been terminated.

P.S. Good luck with you business.:)

antrobus

Mikey40 wrote: »

... And I suppose the other question is it worth registering unemployed and claiming any benefits due me, even though I'm earning peanuts at the moment from my business I'm registered self-employed etc, would I get anything anyway? Any help, tips etc would be most appreciated.

Don't know.

JSA or Universal Credit have their own rules. Their is something called Enterprise Allowance that I believe might be still going.

Someone who knows something about the labyrinthine benefit system might come along in while.

Mikey40

Many thanks Antrobus, much appreciated. I left out a big bit of info regarding my redundancy, the company went into insolvency, administrators appointed and we were made redundant immediately, hence having to sort redundancy pay etc with the RPS, and the main question about my notice period pay claim, as if I'm not actively looking for work and not claiming benefit I'm pretty sure the Notice Period final total will be affected? As for details on the other benefits available I'll look into it. Thanks for the comment regarding business! Fingers crossed!