Self employment and Student Loans

mishand

I`m a full time university student in receipt of a student loan. My husband is registered self employed and we are receiving Working Tax credit.
I`ve now been offered some part time work and wondered if anyone knows the best way to go about this. One idea was to register as self employed myself. I wondered if there is a way to offset my loan against any earnings I will receive.

Jowo_2

What is this part time work and do you plan to undertake it via the sole trader route or via a limited company? The reason I ask is that many limited companies are targeted under IR35 rules which seek to undermine the person's claim to be genuinely self-employed in order to make them pay PAYE tax rather than corporation tax.

When a person is self-employed, the valid deductible business expenses are those incurred wholly in the operation of running the business. I'm not sure why you think a personal loan can be factored in against your tax return or ignored as part of your overall income for the purposes of receiving means tested benefits.

Do please re-clarify if I've misunderstood your intention.

Oldernotwiser

mishand wrote: »

I`m a full time university student in receipt of a student loan. My husband is registered self employed and we are receiving Working Tax credit.
I`ve now been offered some part time work and wondered if anyone knows the best way to go about this. One idea was to register as self employed myself. I wondered if there is a way to offset my loan against any earnings I will receive.

You don't repay your student loan until after you've graduated and are earning at least 15,000. I don't understand what you mean about offsetting your loan.