Limited Company and Incapacity Benefit

JohnB123_2

Can I setup a limited company while being on Incapacity Benefit without loosing any of it, aslong as I do not take any more out of business or no wages??

Just my husband has bad credit and cannot setup business bank account, so we thought that I could do it my name get bank account and then I can resign as director and appoint him, so then bank would have to change directors, letting him have a bank account.

Is this possible and any risk to benefits?

Also how does Housing Benefit work when owning a Limited Company?

Thanks

Trish

MCGONIS

Hi. That is a bit complicated. What to do is telephone IB (although to write a letter is the best way!) that way you have it in writing. Ask them all these questions. Your partner on IB has "special" rules so it's different to comment without knowing all the details.

I don't think business bank accounts come into their rules. But honestly, a call to the helpline with your request will sort it all out!

Good luck!

Hammyman

JohnB123 wrote: »

Just my husband has bad credit and cannot setup business bank account, so we thought that I could do it my name get bank account and then I can resign as director and appoint him, so then bank would have to change directors, letting him have a bank account.

Doesn't work that way. The bank can quite simply close the account.