Benefit help after self employment

Leigh1473

Just looking for a bit of advise re what benefits I will be entitled to: I have been self employed for over 20 yrs, Ive paid tax an NI, sadly I am now no longer drawing an income from my freelance work, and have been living off my savings, which are now dwindling. I have been looking for work, but no luck so far.
Im told by friends im entitled to benifits, but I am unsure as to how long I need to be unemployed for and how much savings I can have before I can claim anything, or what I can claim for. Im single, no children, homeowner. Ive never claimed any benefits before, so havnt got a clue what to do. Any advise at this point would be so greatly appreciated.

Indie_Kid

You may get job seekers allowance, council tax support and if you rent, housing benefit.

You don't need to be employed for a certain amount of time.

pmlindyloo

Leigh1473 wrote: »

Just looking for a bit of advise re what benefits I will be entitled to: I have been self employed for over 20 yrs, Ive paid tax an NI, sadly I am now no longer drawing an income from my freelance work, and have been living off my savings, which are now dwindling. I have been looking for work, but no luck so far.
Im told by friends im entitled to benifits, but I am unsure as to how long I need to be unemployed for and how much savings I can have before I can claim anything, or what I can claim for. Im single, no children, homeowner. Ive never claimed any benefits before, so havnt got a clue what to do. Any advise at this point would be so greatly appreciated.

You would need to claim income based JSA (NI contributions for self employed do not entitle you to contribution based JSA.

Income based JSA is means tested. Therefore you will need to have under £16000 in savings. Under £6000 and you will be entitled to full JSA. Between £6-16000 there is a deduction from your JSA.

Income based JSA will give you entitlement to housing costs (Support for Mortgage Interest after 13 weeks on JSA - goggle for more information) and Council Tax Support.

You can apply for JSA online so get cracking today if you qualify re the savings.

tiger_eyes

pmlindyloo wrote: »

You would need to claim income based JSA (NI contributions for self employed do not entitle you to contribution based JSA.

Ack! I didn't know that. I wonder what I'm paying all these class 2 and 4 National Insurance contributions for.

Leigh1473

tiger_eyes wrote: »

Ack! I didn't know that. I wonder what I'm paying all these class 2 and 4 National Insurance contributions for.

Yes, the same here, Ive paid into the system for so long as a self employed person, and have struggled for so many years to do so, and have never claimed a penny. Think im better off being employed (if I can get a job).

Norman_Castle

http://www.entitledto.com/

dktreesea

tiger_eyes wrote: »

Ack! I didn't know that. I wonder what I'm paying all these class 2 and 4 National Insurance contributions for.

For your state pension. It's bizarre that, under the current system, you could be self employed, earning less thena the NMW for the next 30 years, pay the £2 plus a week class 2 - may not even have enough profit to have to pay class 4 - and collect a full state pension when you retire. It seems to me there is no better investment on the market today than class 2 contributions. Class 2 more so than class 4, because people who don't have to pay class 4, i.e. profits are too low, are probably getting a benefit top up.

tiger_eyes

dktreesea wrote: »

For your state pension. It's bizarre that, under the current system, you could be self employed, earning less thena the NMW for the next 30 years, pay the £2 plus a week class 2 - may not even have enough profit to have to pay class 4 - and collect a full state pension when you retire. It seems to me there is no better investment on the market today than class 2 contributions. Class 2 more so than class 4, because people who don't have to pay class 4, i.e. profits are too low, are probably getting a benefit top up.

I see, thank you. Alas my business supports me, so I am clearly not playing the system as efficiently as I could be ...

(Kidding, kidding.)