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Party plan & Income Support (lone parent)
mummyplus3
Posts: 890 Forumite
Hiya,
I've searched a few threads but not found a definitive answer to this question!
I understand as a lone parent there is a £20 a week earnings disregard. Does this remain the same if you are self employed?
If I host a party and earn £35 in commission for that week but the expenses were: £6 materials, £3 travel, £5 hostess gift, £2 internet & phone which leaves a net profit of: £19
Will I keep that £19 or will I get £15 deducted from income support as I made £35 commision at the party?
Also if start up expenses are £250 (kit, business cards, website etc...) do you divide that by as a deductable allowance across the number of parties you expect to have over the year?
So if you aimed for 1 party a week you could divide it as an expense over 52 parties at £4.80 ish either at one party a week or the first 52 whatever you do the quickest?
Obviously it works slightly differently for the taxman at the end of the year as its done over the year rather than having to do it weekly for income support.
Thanks
I've searched a few threads but not found a definitive answer to this question!
I understand as a lone parent there is a £20 a week earnings disregard. Does this remain the same if you are self employed?
If I host a party and earn £35 in commission for that week but the expenses were: £6 materials, £3 travel, £5 hostess gift, £2 internet & phone which leaves a net profit of: £19
Will I keep that £19 or will I get £15 deducted from income support as I made £35 commision at the party?
Also if start up expenses are £250 (kit, business cards, website etc...) do you divide that by as a deductable allowance across the number of parties you expect to have over the year?
So if you aimed for 1 party a week you could divide it as an expense over 52 parties at £4.80 ish either at one party a week or the first 52 whatever you do the quickest?
Obviously it works slightly differently for the taxman at the end of the year as its done over the year rather than having to do it weekly for income support.
Thanks
0
Comments
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I would guess Income Support would look at it over a longer period that just weekly, I would imagine they would need to see some sort of accounts showing income and expenditure and would work out a weekly income for you.0
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