Voluntary Redundancy

[Highway Man]

Those aren't necessarily the skills you need for self-employment. I thought you had said previously that you didn't fancy it.

No never said that or at least I don't remember saying it, unless I was saying that if you had a high paid job that you enjoy, then there are no benefits to be self employed?

 

[Mottie]

But the saying, it’s easier to get a job when you have a job is very true.

That’s one thing I always drummed into my students. I told them jobs were like girlfriends - easier to get if you’ve already got one.

 

[blup]

It is just the thought of getting a big payout that has enticed me.

What are we talking about?

 

[Highway Man]

What are we talking about?

At the moment it is rumoured at 20k but this figure has not yet been disclosed

 

[motorbiking]

If you are over 41, you are entitled to 1.5 weeks pay for each year of service and the first 30k is tax free. Anything above that is taxed but not subject to NI. Capped at 20 years.

Anything less than 1 month per year is probably not worth it.

£20k is not the sort of money you should be making a quick decision to start a business in just 3 weeks.

 

[Highway Man]

Also to factor in is that they will top up your pension pot till the end of the year, plus your months salary plus any holiday ppay so the figure will more likely be higher

 

[Highway Man]

£20k is not the sort of money you should be making a quick decision to start a business in just 3 weeks.

The redundancy wouldnt be a quick out of the door, it would happen in November of this year. The way I look at it is if you wanted to leave, a 20k payout is better than leaving with nothing.

 

[motorbiking]

Some fag packet maths says a self employed picker / operator can make about £40-50k (revenue) max per year. hiring everything.

Picker £300 per day, income £700 per day / £350 half day. Vehicle, Insurance and other costs say another £7k p/a utilisation lets say 120 FT days.

but its very dependant on you getting 2 bookings on the days you operate.

With your own picker properly accounted for lets call that £12k p/a = £65k but it does give you flexibility to manage jobs.

I know nothing about pickers, but the potential to make more money seems to be if you go for a trailer towed machine and then you can tow it.

 

[pete01]

At the moment it is rumoured at 20k but this figure has not yet been disclosed

Thats the amount I need for my conservatory, take it ...you know... I've always liked you

 

[motorbiking]

I don't know how this fits regionally :

Salary Expectations
In London, entry-level operators (1–3 years) average approximately £38,620 per year, while senior operators (8+ years) can earn up to £64,474 per year. Hourly rates typically range from £17 to £24

but that suggests its not worth going self employed. Though obviously like any self employed person you will pay less income tax.

 

[blup]

Looking at Tom Nagy’s YouTube videos, a lot of the time there needs to be more than one guy operating the picker for health and safety reasons, but maybe that would be covered by sub contracting.

 

[ellal]

At the moment it is rumoured at 20k but this figure has not yet been disclosed

The redundancy wouldnt be a quick out of the door, it would happen in November of this year. The way I look at it is if you wanted to leave, a 20k payout is better than leaving with nothing.

Also to factor in is that they will top up your pension pot till the end of the year, plus your months salary plus any holiday ppay so the figure will more likely be higher

As you've said elsewhere...

'no need to be shocked over the figures'

 

[aveatry]

We have had notifications of being able to apply for voluntary redundancy at our place, only 1 place is available in our dept for this. I am considering buying my own cherry picker and going self employed. I was told because I am top tier in our dept that it would be unlikely that they would accept my redundancy application as I am too valuable with my skill sets. `surely this is not legal and is in my opinion completely biased. Can they do this and not accept my application?

Thank you for the advance warning - I will now be selling my shares in Pot Noodle

 

[Highway Man]

Looking at Tom Nagy’s YouTube videos, a lot of the time there needs to be more than one guy operating the picker for health and safety reasons, but maybe that would be covered by sub contracting.

No the only policy that is in force is we have two men for motorway work and two men above 10 metres. Any road that is 70mph limit can also be a 2 man dependant upon location. It isnt necessary for two men or cost effective unless you are doing bulk changes then that is for speed. I myself and another experienced operator can easily do 30 to 35 changes a day where on your own you can half this.

 

[Highway Man]

Thats the amount I need for my conservatory, take it ...you know... I've always liked you

I sent you an Amazon voucher for christmas, you sent me an old washing machine that was broken.