Income increase post BR

dollparts

I understand the £99 surplus thing now. I'm self employed. If my income goes up after BR I'm assuming I have to tell the OR? And if so how quickly do I have to inform them? I get paid in cash mostly. Supposing it went up say..£25 pw for 3 months. (this is not unusual in my line of work, extra bits here and there) I would imagine I would need a direct line to them if I had to notify OR of every variance?

Anyone in the know of a situation such as this?

philnicandamy

dollparts wrote: »

I understand the £99 surplus thing now. I'm self employed. If my income goes up after BR I'm assuming I have to tell the OR? And if so how quickly do I have to inform them? 21 days from change in finances.. I get paid in cash mostly. Supposing it went up say..£25 pw for 3 months. (this is not unusual in my line of work, extra bits here and there) I would imagine I would need a direct line to them if I had to notify OR of every variance? you'd stil have to mention it for a while until the OR said different...they'd soon tell you such a low ammount they'll not be interested! they usually would take a 3mnth average

Anyone in the know of a situation such as this?

just a few thoughts

thatsyourlot

Hi Dollparts,

I am in the same situation as you, as I am also self employed. So you have answered a couple of the questions I would have wanted to.

I still have my lengthy OR interview to do yet, so Im not sure if they will let me keep my online business (I hope so tho)

I went BR on 6th August & altough I had a quick chat on the phone with the OR, I was told that they would contact me within 24/48 hours but I have not heard anything as of yet.

dollparts

How does it work with IR then post BR? Do I have to stop running my business and start again the next day? I don't 'trade' as such, I provide a service. (no, not that kind of service)

dollparts

thatsyourlot wrote: »

Hi Dollparts,

I am in the same situation as you, as I am also self employed. So you have answered a couple of the questions I would have wanted to.

I still have my lengthy OR interview to do yet, so Im not sure if they will let me keep my online business (I hope so tho)

I went BR on 6th August & altough I had a quick chat on the phone with the OR, I was told that they would contact me within 24/48 hours but I have not heard anything as of yet.

There are too many questions. Just when I think I know what I am doing another uncertainty comes along and unnerves me.

I need to sleep at some point this week. Been living on coffee, ciggarettes and my nerves.

dollparts

philnicandamy wrote: »

just a few thoughts

btw thanks for that info Phil