Housing Benefit and Self Employed

Eric1066

Hi All,

I have been running a small retail shop and my income is low and have been claiming housing benefit. I have an offer to sell the shop which would mean I would have a sum of money about £25000.

My question is whether I would be entitled to housing benefit anymore?

I am confused by this as I don't understand how this works. The way I see it I would not have an income. If I use this money to pay my rent it would soon be gone then I will have no money or an income and would lead to my destruction.

I want to sell the business as I believe my business is taking a turn for the worse as so many big name competitors have moved in, and I want to use this money to buy a better business elsewhere, all of which takes time. To find the business, to negotiate, the lawyers etc... etc...

So can these moneys be considered the businesses money and not mine?? Or is there simply a procedural way of getting round this?

Please help as I am confused and worried. Thank you.
Eric.

pmlindyloo

Eric1066 wrote: »

Hi All,

I have been running a small retail shop and my income is low and have been claiming housing benefit. I have an offer to sell the shop which would mean I would have a sum of money about £25000.

My question is whether I would be entitled to housing benefit anymore?

I am confused by this as I don't understand how this works. The way I see it I would not have an income. If I use this money to pay my rent it would soon be gone then I will have no money or an income and would lead to my destruction.

I want to sell the business as I believe my business is taking a turn for the worse as so many big name competitors have moved in, and I want to use this money to buy a better business elsewhere, all of which takes time. To find the business, to negotiate, the lawyers etc... etc...

So can these moneys be considered the businesses money and not mine?? Or is there simply a procedural way of getting round this?

Please help as I am confused and worried. Thank you.
Eric.

There are certain capital disregards applied, one being if you sell a house and then buy another with the capital from the sale.

This link seems to suggest that there is a similar disregards for assets from the sale of a business (number 8 in the list)

https://www.cans.org.uk/notes/social-security/social-security-benefits-and-contributions/housing-benefit/45-items-of-capital-to-be-disregarded

Your best option is to ring the council and ask about this.

Housing_Benefit_Officer

You will cease to be entitled as your capital will exceed £16k.

Once it drops below £16k you can re apply.

McKneff

JobOppertunity wrote: »

Get paid weekly $500 to 20,000 its $40 to join If you are trying to get on a big team & need help signing up email me my site to signup is

Gotta be 17yrs or Older
Also Get Alot of benefits
Self Employment

You need to just go away, you are scamming people if your company wants an up front fee. Your post has been reported.
Please, do not respond to this ad.