What's my status?
Discussion
I currently do a very boring data entry job through an agency, at minimum wage. However I shall be leaving in about a month.
Reason is, I am about to sell the house I live in and move out of the area. The house is co-owned by myself and my brother, and half the selling price is insufficient to buy another place (even the smallest flat imaginable). Not a problem for my brother - he already owns a house - but it is for me, so I have decided to rent. (Part of the reason for moving is that rents are so much cheaper in the area I'm going to, that I could rent a house there, for £200 a month less than a flat would cost here.)
So here's my question: With (even after estate agents commission, removal costs, deposit etc.) over 100K in the bank, and less than 5 years until I reach retirement age, I'm not going to be in any hurry to look for another job - perhaps only part-time when I do. So, in the meantime, what's my status? What do I do about tax and NI? Do I need to go and sign on even though I'm not seeking employment and wouldn't qualify for JSA anyway? Can I get away with calling myself 'retired' then 'unretiring' later if someone offers me work?
Reason is, I am about to sell the house I live in and move out of the area. The house is co-owned by myself and my brother, and half the selling price is insufficient to buy another place (even the smallest flat imaginable). Not a problem for my brother - he already owns a house - but it is for me, so I have decided to rent. (Part of the reason for moving is that rents are so much cheaper in the area I'm going to, that I could rent a house there, for £200 a month less than a flat would cost here.)
So here's my question: With (even after estate agents commission, removal costs, deposit etc.) over 100K in the bank, and less than 5 years until I reach retirement age, I'm not going to be in any hurry to look for another job - perhaps only part-time when I do. So, in the meantime, what's my status? What do I do about tax and NI? Do I need to go and sign on even though I'm not seeking employment and wouldn't qualify for JSA anyway? Can I get away with calling myself 'retired' then 'unretiring' later if someone offers me work?
Eric Mc said:
Are you not sure about whether you are employed or self employed?
Can't be self-employed if I'm not doing anything shirley?Matt said:
I assume you have longer term plans to get you through retirement? £100k doesn't really go that far.
Yes, go back to work eventually. I just intend to take my time to make sure I find something I enjoy that pays reasonably (hopefully both) rather than jump into the sort of crap job I have now. Actually, I always said that if I won the - now defunct - Lottery Daily Play (£30K at the time) I'd go back to driving instruction. £10K to buy the car, £10K for advertising, £10K to live on while the business builds up.( I could of course, retrain for something else instead.)
Eric Mc said:
Evangelion said:
I currently do a very boring data entry job through an agency, at minimum wage. However I shall be leaving in about a month.
You haven't stopped yet.So my question is still valid.
My question is, what will it be after I leave? (Even if I could stomach the job, a 200-mile commute is not an option!)
I will be resigning.
I like your suggestion; I've always done my own maintenance on my guitars and have recently been amassing more tools and knowledge - teaching myself how to cut nuts, and level and profile frets for example. Refretting next. I'd like to expand into doing this professionally, particularly as it would allow me to work from home.
I like your suggestion; I've always done my own maintenance on my guitars and have recently been amassing more tools and knowledge - teaching myself how to cut nuts, and level and profile frets for example. Refretting next. I'd like to expand into doing this professionally, particularly as it would allow me to work from home.
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