Housing & Council Tax Benefit if Director of a Limited Company

Loulou75

intranicity wrote: »

I'm no expert, but my understanding of a Limited Company is to protect you personally if the Company went bust, but as a small one (wo)man business, with I presume little borrowing or liabilities at present (And if you did borrow from the bank as a Ltd Company, they would no doubt expect you to sign up to being personally liable anyway), I can't see a need or reason right now to be anything other than self employed (Might be many reasons why there is a benefit though).

Being self employed to me makes much more sense, and you might have a better chance of help in the way of benefits if you were.

I'd suggest a chat with someone other than your accountant to make sure you are getting the best advice.

Good luck and hope you're a millionaire soon, or if not at least making enough to be self sufficient again :beer:

Aah thanks. That is a nice helpful message. I'll see what my options are. Not sure if it's too late now though as I already have the ltd company set up and registered for tax. I'll seek further advice.

I wish I could be a millionaire but yes, for now I'll settle at just being able to manage and support myself.

I wish you well in whatever you do too.

P.S......I am a woman. LOLOLOL

intranicity

Loulou75 wrote: »

Aah thanks. That is a nice helpful message. I'll see what my options are. Not sure if it's too late now though as I already have the ltd company set up and registered for tax. I'll seek further advice.

I wish I could be a millionaire but yes, for now I'll settle at just being able to manage and support myself.

I wish you well in whatever you do too.

P.S......I am a woman. LOLOLOL

I'm retired at 45........

Have a read of this, might be of use re Sole trader over Ltd Company

http://www.bizhelp24.com/basics/sole-trader-or-limited-company-the-difference.html

Good luck and all the best

PS Retirement is due to being a War pensioner, so not as great as it sounds lol

fluffymovie

A director can claim HB and CTB.

Loulou75

intranicity wrote: »

I'm retired at 45........

Have a read of this, might be of use re Sole trader over Ltd Company

http://www.bizhelp24.com/basics/sole-trader-or-limited-company-the-difference.html

Good luck and all the best

PS Retirement is due to being a War pensioner, so not as great as it sounds lol

Thanks for the link and I hope that the war wasn't too bad for you. I don't think you guys get enough credit for what you have to do.

Loulou75

fluffymovie wrote: »

A director can claim HB and CTB.

Ooh! How? Please can you let me know?

HappyMJ

I can also confirm as a director of a limited company you can claim working tax credits, housing benefits and council tax benefits.

Declare the profit (if any) to the council and they will calculate what you will be entitled to.

fluffymovie

You would be classed as employed and so should issue yourself payslips.

This is a very misunderstood part of HB/CTB and I actually asked for training on this area for my staff today.


You are able to claim Housing Benefit and Council Tax Benefit if you are self-employed and on a low income. If you pay your own income tax and national Insurance contributions you are classed as being self-employed. If you are a director of a company, then your earnings from the company will be counted as income and your share of any dividend.

intranicity

Loulou75 wrote: »

Thanks for the link and I hope that the war wasn't too bad for you. I don't think you guys get enough credit for what you have to do.

Loved my job, and !!!!!! happens lol, there are many worse off than me, and I'm lucky with regards my Housing and Council Tax Benefit, that my local council as well as many others disregard my War Pension, so monies not great but I have a decent roof over my head

I'm sure you'll get there in the end and glad you are getting some helpful advice to, all to easy to judge people on these places and take a pop at them

Loulou75

HappyMJ wrote: »

I can also confirm as a director of a limited company you can claim working tax credits, housing benefits and council tax benefits.

Declare the profit (if any) to the council and they will calculate what you will be entitled to.

Hi, you helped me out on a previous thread!

What sections of the form did you complete? The employee or the self-employed? Do you pay yourself as an employee of your company? Or did you complete the self-employment earnings form?

Loulou75

fluffymovie wrote: »

You would be classed as employed and so should issue yourself payslips.

This is a very misunderstood part of HB/CTB and I actually asked for training on this area for my staff today.


You are able to claim Housing Benefit and Council Tax Benefit if you are self-employed and on a low income. If you pay your own income tax and national Insurance contributions you are classed as being self-employed. If you are a director of a company, then your earnings from the company will be counted as income and your share of any dividend.

Thanks. Do you work in Housing benefit? Should I complete the form as an employee and get a PAYE number etc? Do I need to complete the Self-employment earnings form? My accountant said no. What do you suggest?

Thank you for your help.