New Enterprise Allowance scheme - My story

WantToBeSE

TeeKay10 wrote: »

Hi fay66,

If you mean the Job Grant of up to £200 (I think it was) then unfortunately the Govt have stopped that now

But the In Work Credit scheme is still running, where you can get up to £60 per week on top of your earnings once you start work (If you qualify for the benefit of course!)

HTH

https://www.gov.uk/job-grant/overview

https://www.gov.uk/in-work-credit/overview

Just to point out that the IWC is only available for those who have been on benefit for over 56 weeks. Luckily/unluckily (however you look at it) i wont have been on benefit long enough to qualify.

pinkypoopydoo

Return to work credit seems to be a different deal to in work credit. No wonder the government wants to streamline benefits into one credit (first time I think I've agreed with a policy from the current government!). There seems to be odd credits and payments all over the shop, seemily all for the same thing?!

WantToBeSE

I agree Pinky, i don't think ALL of the changes are necessarily bad, and can see the reasoning behind quite a few of them.

RTWC looks like it's for those who have been claiming benefits because of illness/disability.
IWC is for lone parents who have been claiming benefit for more than 12 months.

Does anyone know if the 4 week Extended Housing Benefit payments still exist? It used to be that as a LP, if i went back to work after being on a qualifying benefit for i think it was 12 months, i would get a 4 week 'run on' of HB and CTB...but i dont think they do it anymore, do they?

pinkypoopydoo

Isn't housing benefit means tested, so if you were to sign off as self employed, but were on low earnings for the first few months, you'd still be entitled to it?

WantToBeSE

I think you are right, Pinky. I am guessing that for the 1st few months i'll get HB and CTB anyway..hopefully not for long though.
As part of my business plan, i am sitting down writing out multiple financial scenarios this morning and getting down on paper how much i'll have to earn to break even, and how much i'll have to earn to make a profit.

It's starting to feel real now

sammyjammy

Looks like 4 week extension still applies to HB so probably to CTS as well

https://www.gov.uk/housing-benefit/further-information

WantToBeSE

Thanks Sammy

I really cant wait until i don't need any of these benefits and can provide for my family myself.
Bring it on

pinkypoopydoo

WantToBeSE wrote: »

As part of my business plan, i am sitting down writing out multiple financial scenarios this morning and getting down on paper how much i'll have to earn to break even, and how much i'll have to earn to make a profit.

I'm avoiding doing the financial stuff just now - my kids are away to their dads house next weekend, so will do it then, when I have time to really concentrate. Bizarrely, despite my chosen career, I'm not looking forward to it. It's far easier to deal with someone elses cash flows and projected profit, than it is to deal with my own forecasts!

I spoke to the logo designer this morning, and I should have a design by Monday at the latest, so today I'm looking into insurance costs/bank accounts etc.

WantToBeSE

Hehehe Pinky, i can imagine i'll become the cleaner who hates cleaning her own house but is happy to clean everyone elses!

Do you mind me asking how many children you have? Will you be claiming childcare costs for them?

pinkypoopydoo

i have four children, ranging from 15 down to 5. I'm not intending claiming childcare for them initially, as my business plan allows me to work from home to begin with. My youngest starts school in August (his birthday missed the cut off for a 2012 start by a couple of days), and then once he is settled, I will look to expand my services to include stock management which I would need to go to the client for (you can't count stock from home! lol), but I think my neighbour will look after him then if needed. The older three are far more self sufficient as they are older.