Right I've got my date for my reduncy. But I'm still on furlough until then. I no I can go get another job whill I'm on furlough. But the question is will my tax and national insurance go sky high as it's classed as having to jobs for a few weeks and is it worth doing or just a pain in the arse ? And should I just wait until I've been made redundant ? Are any of you guys in the same boat

In reply to Post #1
If i was in that position the first thing i would do is look for new employment mate. Talk to the new employers and see if they can delay your start date. Phase out one job and into the new one. They may be able to help with this or advise you on the financial side of things?

In reply to Post #1
If you're in a union speak to them mate.

Good luck mate and hope all works out well for you.

In reply to Post #3
Well said. Good luck

In reply to Post #1
I think you'd be mad not to start looking for a new job immediately. There will be thousands of guys looking when the furlough scheme ends.

Thanks for the advise guys

Good luck Ross
Hope it all works out okay m8

In reply to Post #7

I'd start working as soon as I can. You might find the overlapping pay checks tax a little high, but once you get the P45 from the old job, the tax will balance itself out. You are still going to end up with more money in your pocket, even if you pay a little more tax.

The only time it might be beneficial to delay is if it will keep you in a lower tax band, but that's only the point at where you would go above £100K per year, as you begin to give up the personal allowance. Even then you could offset that by asking to pay some extra money into a private pension.

In reply to Post #9
Beware Though
You may not get a p45 so don't hang out for one
I didn't Get one and found out from the tax office You don't automatically get one anymore
The letter of redundancy should mitigate any extra taxes