New Enterprise Allowance scheme - My story

WantToBeSE

Does anyone know when i should contact the jobcentre about signing off JSA because of starting SE work?
I start on Monday (not tomorrow, next week)so should i go in asap this week, or leave it till Friday?
I need them to have enough time to sort out signing off and processing the In-work-Credit that i can get?

TrueBlue1965

I had my first meeting with NEA on Thursday. The guy running NEA in my area told me how things work and how great he and the scheme is. 1600 new business in the area with 80% still trading after at least a year. He set up the Government pilot NEA in 2011 that all NEA schemes are based on. He was very critical of some of the other providers of NEA which was quite interesting based on what i,ve been reading on here.

He gave me a template for a business plan plus an example as a guide. Also, sent me copies by e-mail. I was also given lots of info on setting up and running a busines and some of the problems i might face (good bed time reading). All good stuff that should be useful in the months a head. Im told that my business plan is expected to be completed in 8 weeks but this can be extended to 10 weeks if needed. He gave me info on the loan of £1,000 and gave me a form to fill in for next weeks workshop to get the process of getting the loan sorted in plenty of time. I have a workshop next Thursday that everybody who joins the NEA scheme must attend.

The following week i will get my NEA mentor. The mentor is expected to work with me to complete my business plan and give me guidance on setting up my business. The mentor is expected to have weekly meeting with me until my business plan is completed!

There are 5 other one day workshops in various areas of business that i can attend while on the business plan part of NEA. Everything seems to be up front and as its supposed to be. Lets hope it continues as it does apear that others have been let down in other areas.

pinkypoopydoo

I was already in receipt of CTC, so I phoned and did a change of circumstance over the phone. I got a one off payment about 10 days later, and my tax credits payment date stayed the same, with my WTC kicking in at the next payment date.

to register as self employed with HMRC go to this link

http://www.hmrc.gov.uk/selfemployed/register-selfemp.htm

You will have to register for self assessment, and they will send you an access code for the SA sevices, and also a Unique Tax reference (UTR) Use the code straight away, keep the UTR safe. Remember, the 2014 deadline for self assessment is for the tax year 2012-2013, so you will not have to worry about it. Your first SA return will be for year 2013-2014, so it will be 2015 before you should need to submit anything.

There is also a link on that page to the form you need to fill in for NI payments.

pinkypoopydoo

WantToBeSE wrote: »

Does anyone know when i should contact the jobcentre about signing off JSA because of starting SE work?
I start on Monday (not tomorrow, next week)so should i go in asap this week, or leave it till Friday?
I need them to have enough time to sort out signing off and processing the In-work-Credit that i can get?

I was told that the earliest I could sign off, was the Friday before I started, so I phoned them then and signed off. It took a fortnight for my first NEA payment to come through - not sure if it would be the same with in-work credit.

WantToBeSE

pinkypoopydoo wrote: »

I was already in receipt of CTC, so I phoned and did a change of circumstance over the phone. I got a one off payment about 10 days later, and my tax credits payment date stayed the same, with my WTC kicking in at the next payment date.

to register as self employed with HMRC go to this link

http://www.hmrc.gov.uk/selfemployed/register-selfemp.htm

You will have to register for self assessment, and they will send you an access code for the SA sevices, and also a Unique Tax reference (UTR) Use the code straight away, keep the UTR safe. Remember, the 2014 deadline for self assessment is for the tax year 2012-2013, so you will not have to worry about it. Your first SA return will be for year 2013-2014, so it will be 2015 before you should need to submit anything.

There is also a link on that page to the form you need to fill in for NI payments.

pinkypoopydoo wrote: »

I was told that the earliest I could sign off, was the Friday before I started, so I phoned them then and signed off. It took a fortnight for my first NEA payment to come through - not sure if it would be the same with in-work credit.

Thanks Pinky, thats really appreciated
I went into the job centre this morning to ask what i need to do, and they have given me an appointment for Thursday.
I will hopefully be getting a grant from them, for approx £200 to cover my first 2 weeks childcare too.

The SA stuff is freaking me out slightly as it looks a bit confusing, but i am sure it'll be ok.

Andy2013

I was told the art of doing an easy self assessment is to religiously do your books each month detailing everything in/out , file receipts etc. and it can be reasonably straight forward , if your books are a mess it will take days!!!

So far I have tried to follow this principle end of each month, should be fun .

pinkypoopydoo

Andy2013 wrote: »

I was told the art of doing an easy self assessment is to religiously do your books each month detailing everything in/out , file receipts etc. and it can be reasonably straight forward , if your books are a mess it will take days!!!

So far I have tried to follow this principle end of each month, should be fun .

Absolutely. Or get a reliable bookkeeper to do it....

pinkypoopydoo

WantToBeSE wrote: »

The SA stuff is freaking me out slightly as it looks a bit confusing, but i am sure it'll be ok.

Once you get going, it's not that bad, honest! It all falls into place and starts to make sense.

WantToBeSE

Thanks Andy and Pinky

Because i am working for an agency to start with, and starting on only 14 hours work a week for the first few weeks, i am hoping it'll be pretty simple to do the books because i'll have the payments direct from them, and i am invoicing the agency weekly and getting paid weekly from them.

Can i register for SA now, or do i have to wait until next Monday? I called TCs (Tax Credits) who told me that they cant do anything until i have actually started working.

I am a bit nervous about telling them that i am only working 14 hours for the first few weeks, as thats not enough to get TCs (but i know i will be able to add on the hours that i work behind the scenes, on paperwork etc)..has anyone had a problem with this?

Pardon me for all the questions, but i hope you dont mind.

TrueBlue1965

As fare as i am aware. Anything you do to find work for your business is work. Rsearch and marketing, paperwork/book keeping ect is all classed as work. Even going to the local stationary shop to pick up a few pens is still classed as work for your business. Its all time spent on your business. So, should be easy to fnd the extra few hours to gain WTC