Claiming Housing benefit while being self employed... is it going to be a headache?

rogerblack

osdset wrote: »

The OP might well want to consider that under the new regulations which come into force with the implementation of Universal Credit HMRC will be calculating income tax on the basis that the self employed person is earning the equivalent of 35 hrs per week at National Minimum Wage = £216.65 (gross).

Can you provide a link to this?
This isn't my understanding.
There are rules and regulations around this for tax credits, but not actual income.

Danny_Sorrell

I thought it was only WTC affected?

Adele_Levy

when i was assessed for esa they say i can work limited hours, and am disabled. so they dont expect me to work a full 35 hour week.

fluffymovie

As said previously, it can vary from LA to LA but in all the one's I have worked in, we do it as follows

New business is set up = we ask for an estimate of first 13 weeks trading and profit.

After 13 weeks, we ask to see income and expenditure for the first 13 weeks trading and we would use that for the next 13 weeks.

After a further 13 weeks, we would ask for the first 26 weeks income and expenditure and would use that for the next 26 weeks.

After 26 weeks, customer would have 1st years trading accounts (only need to be audited if business is worth >£1m from memory) so could be income and expenditure, spreadsheet, books etc.
We would then use that amount for the next 52 weeks.

If the business was to have a 'significant change' we may review the income at any time throughout the process but in most cases, significant changes don't occur. We mean things like, if you have 2 contracts and lose 1 with no prospect of getting a new one etc!

I won't lie and would say that S/e cases are more complicated to assess than most other types of claim. They require more information and evidence than others also. However, there is nothing to say that we need to be concerned about the size of the business so you would be fine on a small scale.

Our concern is where people claim to be s/e but have no income for years at a time but retain Working Tax Credit but this doesn't sound like it would apply to you.