Can I get LHA if I'm selfemployed?

peainapod

They'll want to see your books, that's what I was told by job centre when I asked the same question, and based on your earnings they'll decide if you should be awarded any money

Hammyman

Sixer wrote: »

But the £100 in expenses can only include the interest on loan payments, not the capital repayments - regardless of whether you are self-employed or a limited company.

I specifically didn't itemise the tax deductible expenses for the simple reason that it fires off a completely different thread that wants to be in a different forum.

I was merely giving a simple illustration to show the difference between sole trader and ltd company.

Sixer

Hammyman wrote: »

I specifically didn't itemise the tax deductible expenses for the simple reason that it fires off a completely different thread that wants to be in a different forum.

I was merely giving a simple illustration to show the difference between sole trader and ltd company.

Sorry, I wasn't criticising you. It's just that the OP's first post (and one of dmg24's posts) implied that the OP thought his £200 of drawings was the income he should declare on an LHA claim - and that repayments of loans would be allowable expenses BEFORE profit was calculated. I was just wanting to make it crystal clear to the OP that his loan repayments (or at least the capital portion of them) are actually income. I wouldn't want anyone to get into hot water with either a benefit claim or a self assessment that was incorrect.