I have worked as a FC for over 11 years now with the same company and my MD has offered me reduntancy instead of being furloughed with others (61 employees) as he needs me to do some work during this period doing duties like payroll, admin duties, managing cash flow etc. Our business is likely to be closed for longer as we supply school products so if school remain closed there is no business until Sept 2020 when the schools open again for the new year and our head office will move from London.
My MD has offered to hire me back for 2 days as Ltd company working from home/my office for £2K a month for a period of 12 months and I have also a small client base doing mainly bookkeeping, management accounts & payroll for different accounting firms earning some good money alongside my permanent job for 3 years now. I have also been doing some work for friends for free but will start charging them from April 2020 and I now want to use this as a opportunity to start my own business working from my home initially and then rent an office within 2 months and my anticipated budget is as follows;
Sales revenue £60K (£24K will be from one client)
Director sal -£25K
Staff Sal (wife) -£9.5K
Other expenses -£10K (includes office rent £3K)
I really wants to know your opinion with regards to taking this offer from my current employer, also giving myself a salary of £25K a year and offering my wife a salary of £9.5K who will work as a part-time administrator as she is a full time student for the next 3 years? I have decided to give myself a high salary as a result of this coronavirus crisis. All issues like practice certificate and having the experience to do the job are all sorted now as I have prepared myself for 3 years now. Has anyone done it before like getting work from current employer (IR35 not an issue) and is there anything else you think I need to do?