Self Employed - What are we entitled too

A_Couple_In_Love

Me and my partner are both unemployed claiming JSA, and we are thinking of setting up our own business together to get back into work.

Now obviously, for the first year or so, we would most likely not be earning enough to cover our rent, council tax and general bills, not even our bills & general outgoings alone.

What would we be entitled too? We would be putting in as much hours as possible from Monday-Friday. So lets say, one week we earn as little as £20 if that, surly we would be entitled to something?

A_Couple_In_Love

blondebubbles wrote: »

What age are you both?
How many hours do you think you'll work each week?
Any children?
Any disabilities?

Thanks for your reply.

What age are you both? - 24 & 22
How many hours do you think you'll work each week? - 35 -40 Hours (could change to suit what I am entitled too)
Any children? No
Any disabilities? No

We will be working from home, currently private renting and claiming LHA, Tax reduction & JSA

nonnatus

Why don't you both get part time jobs and start the business part time. That way you'll grow the Business slowly and will be partly funding YOURSELF for the first year.

If you're both planning on starting a Business that's not going to make any money for the first year, maybe you need to have a different business idea??

Start smaller. Sell a product or service that you can create for very little and sell to make a PROFIT. (clean a window, mow a lawn, make a sandwich etc). What kind of Business do you imagine making no money in 12 months with?

Sorry if this sounds harsh, but I've been self-employed for 20 years on and off and in none of those Businesses did I make NO money in year one. Do you have a Business Plan / Forecast?

A_Couple_In_Love

blondebubbles wrote: »

You wouldn't be entitled to working tax credit until one of you is 25. When over 25, you need to work at least 30 hours per week and earn less than £18,000 (there is a bit more to it but that is the general criteria).

You could try one of the benefit calculators such as turn2us or entitled to for other benefit help.

I am not so familiar with Universal Credits, but I believe you can claim universal credits for low income, which is now lowered for under 25 year olds.

Is this correct?

A_Couple_In_Love

It is available in my area according to their website which is good news.

If anyone else has information on this, please let me know?

pmlindyloo

A_Couple_In_Love wrote: »

It is available in my area according to their website which is good news.

If anyone else has information on this, please let me know?

As far as I am aware if you are already claiming JSA then you cannot claim Universal Credit until you are told to.

In some areas only certain groups of people are being asked to claim UC.

Check with your Job Centre.

As regards the self employment then I would suggest that you continue to claim JSA until things are set up and you have some orders/clients. What kind of work are you thinking of doing?

You can work up to 16 hours a week and still claim JSA. Anything over these hoours and your claim would end. Any income earned would be deducted from your JSA with a small disregard (£10 a week?). This would mean that you could continue to claim HB and CT reduction.

If you choose to end your claim for JSA then you would still be entitled to HB and CT reduction on the basis of a low income but nothing else.

Here is a link for UC and self employment.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/322280/uc-and-self-employment-quick-guide.pdf

pebbles88

A_Couple_In_Love wrote: »

Me and my partner are both unemployed claiming JSA, and we are thinking of setting up our own business together to get back into work.

Now obviously, for the first year or so, we would most likely not be earning enough to cover our rent, council tax and general bills, not even our bills & general outgoings alone.

What would we be entitled too? We would be putting in as much hours as possible from Monday-Friday. So lets say, one week we earn as little as £20 if that, surly we would be entitled to something?

A_Couple_In_Love wrote: »

Thanks for the advice, I am not really one for loans, and this loan will be my only one, it is being used sensibly for a car or motorbike to get to and from work. We have 2 wages coming in so we should have no problem paying £111 per month over 18 months if it is interest free.

What happened to the full time employment from only a couple of weeks ago? Fro this thread: https://forums.moneysavingexpert.com/discussion/comment/66452418#Comment_66452418