The threat of unemployment may be on the horizon due to a reality check from the Chancellor’s implementation of CJRS. The new measures ask employers to commit to a 60% funding for employee’s wages going forward, resulting in a firm decision as to whether the job or placement is sustainable for the future? Perhaps some might negotiate with their employers for a soft landing by an engagement on a contract basis, thereby shifting the burden slightly, offering to work when required and fulfilling the remaining days with further contracts?
Redundancy can and will be a “New Start”, most will have a short term cushion from payouts and then fulfill long held desires to branch out and become their own boss. Britain was and is known as a nation of shopkeepers, referring to our capacity to embrace individual passions and turn them to our advantage, from corner shops to high volume web sales. Take the time to evaluate the important things, as life after Covid returns. The time spent at home resulted in incomplete tasks completed, passions for leisure revitalised, family wellbeing at the centre of our activities. That “nine to five” job may seem like an interruption for these new ways, I would advocate a discussion around time over income and perhaps, having more control over both.
“That’s easy for you to say” you may speculate, well it wasn’t, at 24 as a recently qualified Apprentice Technician I walked out of the engineering factories in Coventry (the very heart of engineering) and started on my own, newly married (with our first child) and a brand new house to find a mortgage for, those three things alone kept me focused, having access to capital denied by banks, I became an independent self employed milkman working through the night to finish at 7.30 am, then to my new garage to build and repair rally and race cars; adapting was the key, the market collapsed in the mid 90’s for classic racing and veteran cars, again I adapted and over several years achieved Associate Tax Advisors membership, shortly to be awarded membership of the Institute of Financial Accounting. It is from this standpoint that I urge you to grasp the New Start and make PAYE a thing of the past.