Voluntary Reduction in salary

[Mark_jmc]

Hi,
I work for very small company (i dont own the company) that is in severe difficulty at the moment. Tough decisions are being made and we will be very soon in a position where there is not enough money to pay wages. It looks as though I will be at the very least put on a three day week. I am looking for an answer as to whether the following scenario is legal/workable etc?

Could I take a significant voluntary cut to my wages on top of going to the three day week. (this would help reduce the employers prsi on my wages. My job does & will continue to require significant travel/mileage which I legitimately claim each month in line with revenue guidelines. I reckon that this would help bring the money i earn on a monthly basis towards the basic net salary that I currently earn.
Also if I am put on a three day week am I eligeable to partially claim the dole?

I hope this makes sense and that someone could shine light on this for me- It's a worrying time especially as I was made redundant in my previous role last year, I really don't want lightning to strike twice- i'm trying to be as flexible as possible to help the company through this difficult time,
Thanks,
Mark

 

[papervalue]

Hi,
I work for very small company (i dont own the company) that is in severe difficulty at the moment. Tough decisions are being made and we will be very soon in a position where there is not enough money to pay wages. It looks as though I will be at the very least put on a three day week. I am looking for an answer as to whether the following scenario is legal/workable etc?

Could I take a significant voluntary cut to my wages on top of going to the three day week. (this would help reduce the employers prsi on my wages. My job does & will continue to require significant travel/mileage which I legitimately claim each month in line with revenue guidelines. I reckon that this would help bring the money i earn on a monthly basis towards the basic net salary that I currently earn.
Also if I am put on a three day week am I eligeable to partially claim the dole?

I hope this makes sense and that someone could shine light on this for me- It's a worrying time especially as I was made redundant in my previous role last year, I really don't want lightning to strike twice- i'm trying to be as flexible as possible to help the company through this difficult time,
Thanks,
Mark

I think the max you can work is three days a week to sign on for the other days. If you work four days you cant sign on.

Their is nothing stopping you from taking a large wage cut.

Dont forget early next year to file a tax return for balancing statement to get any tax refund that might become due