Redundancy when you have a job AND a small business

I have a full time job, paying a decent wage, I also have a very small business that just makes £1000 - £2000 profit a year, usually all in March, nothing else gets done for the rest of the year. I put in a SA tax return every year .
If I were made redundant from my salaried job, would my small business affect my ability to a) claim statutory redundancy, or b) claim job seekers allowance?
I'd be quite happy to simply declare myself no longer self employed and wrap up the small business if it were likely to cause problems.

Comments

  • Undervalued
    Undervalued Posts: 8,799
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    a) No, assuming the company is not insolvent and can pay the redundancy. If they were insolvent and any redundancy had to be paid by the government (RPS) then it might well be affected.

    b) Very likely yes I would have thought, or at the very least complicate matters. Maybe best to ask that question on the benefits board.
  • Skutter47
    Skutter47 Posts: 15
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    Forumite
    Thanks. I think I will probably unregister myself, and keep to below the £1000 a year threshold at which you have to declare self-employment, just to be on the safe side. Any redundancy payout would likely dwarf the meagre profits I make on the side.
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