Big change in circumstances - di I get some help?

techsavvy_2

Deleted...just come across entitled to website.

Thanks

Caz3121

I understand that taking a low salary is tax efficient however looking at your signature and previous SOA it clearly won't cover your basic bills. Are you planning on taking dividends also?

You may get some help from tax credits but not sure how they treat dividends

Help with rent depends on the LHA for your area (3 bedroom rate) , your level of savings and income, at the start of the year your SOA indicated you had a mortgage on a property with a fair bit equity, have you sold that?

R_P_W

so you are choosing to leave your job to set up business for yourself? A very bold move especially giving up £105k a year in salary but if you can pull it off the longer term benefits could be greater.

All I would say is, why dont you stick the job out for another 12 months and pay off your debt and save a bit more?

I'm no expert on benefit entitlements but my gut feeling tells me why should you get any? you have a salary at the moment that the majority of people could only dream of. Obviously a high salary is not always the path to happiness so if your own business is what you want to do i applaud you for it, but it has to be at your own risk in my opinion.

recoverydust

You earn £105,000 and you are choosing to give up a job and ask if you can get benefits? Gobsmacked! Is this for real?

techsavvy_2

Yes thanks, sold up and everything cleared with large chunk of balance put into new business so left with a few thousand savings. Have looked into the "entitled to website" so will get my answer there.

Thanks anyway for relying.

Cheers

techsavvy_2

I am jumping before I get pushed. The job is not too secure.

techsavvy_2

It was also just a question. My circumstances now are that I literally earn nothing and am living off savings while a business I have started picks up.

Is what I earned in the past is relevant?

What if I hadn't take the active step to leave and I was simply made redundant?

If I am not entitled to anything then fair enough.