Hello,
I was recently made redundant from a PAYE job. Signed on - no problems. I work in IT so I have just landed a 3 month contract. Now I need to setup a company to get paid for this work.
Now one thing im thinking of during this period is of actually putting some ideas together and starting a proper company out of this. I am going to use the 3 months to work out the viability of things...
My predicament:
If I change now from Class A to Class S I will loose my PAYE/Stamps contributions which I have had since 1997...
Can someone tell me what this means ? I think it means the following:
- In two years time I can claim for:
Dental
Dole (in current environment might need this!?
anything else ???
Is my state pension affected if when I retire ?
If I get a PAYE job again in a few months how long before my "stamps" are "good" ??
I'm very confused !
Part B: Cant seem to get advice on this anywhere :
At the end of my 3 month contract I may get a PAYE job but continue to operate the "company" in the background to see if if there is something viable there in the future..
So if that were the case I would be working in a PAYE job.. and have this "entity" on the side...
How does that work ?? Do I just let the company operate and keep any cash coming into it in the company
Where should I go to get more advice on these scenarios ??
Thanks in advance
-a-