Giving up working - what happens? - Page 2 - SV650.org

31-08-06, 11:07 AM

Quote:

Originally Posted by tigersaw

Who is 'they' ? Your company, the govenment, ?

government

tigersaw · 31-08-06, 12:05 PM

Quote:

Originally Posted by SVeeedy Gonzales

Quote:

Originally Posted by tigersaw

Who is 'they' ? Your company, the govenment, ?

government

Thats interesting - wonder if its a byproduct of taking severence, rater than just deciding to quit. there is no mention of it on the yougov website I scrutinized.

embee · 31-08-06, 01:18 PM

You could become self employed.

Class2 NI contributions are £2-10/wk but there is a "small earnings exception" of nearly 4.5K. If you do earn above the lower profit limit you pay Class4 also, but if you do a low income "part time" self employed job you can easily stay below the threshold or even below the small earnings exception.
http://www.hmrc.gov.uk/rates/nic.htm

You can defer payment (and subsequently backdate IIRC) for 6yrs I think, so no great urgency. A phone call will confirm your options.

Don't know what it's like in your neck of the woods, but gardening is a nice little number if your fingers are at all green. No overheads, no outlay, turn up and do the job, get paid, go home.

I do 1 day a week gardening as a regular job, other jobs as they come along and if I feel like it. Self employed means capital allowances for car, tools etc, plus percentages of fuel/insurance/MOT/servicing etc etc as expenses. Surprising how much you can get your profit down by

.

Just depends if you can afford it really.............

tigersaw · 31-08-06, 02:18 PM

Quote:

Originally Posted by embee

You could become self employed.

I did see that as a possibility, and taking advantage of the class 2, yes. As part of the downsize I'd move location, probably go west to Somerset - don't know what the part-time work is like there. Gardening sounds ok, dog walking even! Anything thats stress free and sensible hours, thats what I need to find. I used to have a sideline repairing pinball machines and jukeboxes, maybe pick up on that again.

That website link looks uber-complicated, looks like I've some studying to do; this helped it make sence http://www.hmrc.gov.uk/nic/background-nic.htm

31-08-06, 03:18 PM

Tigersaw,

Do whatever feels best for you.

I feel exactly the same, and I'm sure there's lots of others on the forum who hdave the same sentiments.

I've been mulling over doing different things for nearly a year. I'm waiting for Mrs Mass to go back to work before seriousley considering what to do.
The I.T. game for me, lost its sparkle a long time ago.

I've considered gardening, being sa general builder, even doing up houses for profit.

Who knows what I'll end up doing. One thing is for certain, I ain't plannin' on doing this stuff for the rest of my days.

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31-08-06, 01:18 PM	#13
embee Member Mega Poster Join Date: Jul 2003 Location: Warwickshire Posts: 2,804	You could become self employed. Class2 NI contributions are £2-10/wk but there is a "small earnings exception" of nearly 4.5K. If you do earn above the lower profit limit you pay Class4 also, but if you do a low income "part time" self employed job you can easily stay below the threshold or even below the small earnings exception. http://www.hmrc.gov.uk/rates/nic.htm You can defer payment (and subsequently backdate IIRC) for 6yrs I think, so no great urgency. A phone call will confirm your options. Don't know what it's like in your neck of the woods, but gardening is a nice little number if your fingers are at all green. No overheads, no outlay, turn up and do the job, get paid, go home. I do 1 day a week gardening as a regular job, other jobs as they come along and if I feel like it. Self employed means capital allowances for car, tools etc, plus percentages of fuel/insurance/MOT/servicing etc etc as expenses. Surprising how much you can get your profit down by . Just depends if you can afford it really.............

31-08-06, 03:18 PM	#15
The Mass Guest Posts: n/a	Tigersaw, Do whatever feels best for you. I feel exactly the same, and I'm sure there's lots of others on the forum who hdave the same sentiments. I've been mulling over doing different things for nearly a year. I'm waiting for Mrs Mass to go back to work before seriousley considering what to do. The I.T. game for me, lost its sparkle a long time ago. I've considered gardening, being sa general builder, even doing up houses for profit. Who knows what I'll end up doing. One thing is for certain, I ain't plannin' on doing this stuff for the rest of my days.