How to Close Down My Business

stephenni1971

Contribution-based Jobseeker's Allowance
Jobcentre Plus can pay this for up to 182 days. It’s based on how much National Insurance you have paid in the last two tax years. Generally, self-employed contributions will not help you qualify for contribution-based Jobseeker’s Allowance.
Income-based Jobseeker's Allowance
This is based on your income and savings. You may get this if you have not paid enough National Insurance contributions (NICs) (or you've only paid contributions for self-employment) and you're on a low income.

Looks like the income based version you may be eligible for - though they will take into account other household income.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Employedorlookingforwork/DG_10018757

chrisb1357

There is a thread i have open regarding the JSA side of this issue i have http://forums.moneysavingexpert.com/showthread.html?p=27638949#post27638949

paulwf

Hi Chris, I don't have any advice to give but just wanted to say sorry to see you are having to shut the business, it was nice to see you start it up with the help of this forum. I guess that long thread about not getting involved in the computer repair business was right?

chrisb1357

Yep many thanks, I was glad that i did give it a go and to see how it worked out. Lease i can still say i gave it a go. Fingers cross the JC can help me with JSA until i now find myself a fulltime job

Chris

chrisb1357

Well its all done. I have now stopped trading and have informed HRMC, Tax Office and Working Tax Credit. I have also posted back my Class 2 Tax Exemption Form as well.

What do i need to do now as i was told i would need to do tax return, When does this need to be done as i started trading in June this year

Chris

Rolo_Tomasi

Your Return will be issued to you in April 2010 and it has to be submitted by 31/10/10 if sending in by post or 31/01/11 if completing online. If there is any tax due this has to be paid by 31/01/11 too.

chrisb1357

Sorry to bring this thread back up. But can you confirm i dont need to do any tax return this year and i should be informed in april 2010 to file one by jan 2011 next year

Chris