DWP seem to demand business accounts unfairly

plane007

I am one of two directors of a limited company. I am on Working Tax Credit and having received absolutely no payments for work from the company or anywhere else, as shown in my personal bank account submitteed to them. The company accounts show it has no value with over £8000 accrued losses. It is minimally trading with its first little profit last year since 1996.

I am trying to claim Pension Credit, since I believe I am entitled according to their own calculator on their site. The DWP are demanding that I release trading details from the company, i.e. bank account statements, any sales etc.

My co director does not agree to allow the release of the information, so I cannot. I also do not have board permission to access the business money. Thus, I cannot see how DWP can demand the information. What should I do?

BigAunty

plane007 wrote: »

I am one of two directors of a limited company. I am on Working Tax Credit and having received absolutely no payments for work from the company or anywhere else, as shown in my personal bank account submitteed to them. The company accounts show it has no value with over £8000 accrued losses. It is minimally trading with its first little profit last year since 1996.

I am trying to claim Pension Credit, since I believe I am entitled according to their own calculator on their site. The DWP are demanding that I release trading details from the company, i.e. bank account statements, any sales etc.

My co director does not agree to allow the release of the information, so I cannot. I also do not have board permission to access the business money. Thus, I cannot see how DWP can demand the information. What should I do?

I'm not sure you can dismiss the DWPs conditions simply because its a struggle for you to provide the info they have requested but other posters will indicate if this request is normal for a Working Tax Credit/Pension Credit claimant who runs their own business.

Have I misunderstood the sentence where it appears you have operated a business for nearly 20 years that has only this year achieved an insignificant profit from which it could not give you any income at all?

And your co director, surely aware that you are dependent on benefits and not getting any living income from the business, refuses to cooperate with the release of company information that would ease your poverty?

Do you actually legally require the permission of the joint director to hand over this information? Do you perhaps have the right to forward it to whomever you like as you have equal status in the company? How does a joint director somehow manage to be excluded from the financial operating side of the business? I don't have expertise in this area, just curious how you can be one of two directors in the company but not be able to take decisions or access key information yourself. Are you not even able to get hold of copies of the bank statements and invoices for the business that you co-run?.

NYM

What do you mean by 'minimally' trading?
Is your co-director a family member?

fed_up_and_stressed

plane007 wrote: »

I am one of two directors of a limited company. I am on Working Tax Credit and having received absolutely no payments for work from the company or anywhere else, as shown in my personal bank account submitteed to them. The company accounts show it has no value with over £8000 accrued losses. It is minimally trading with its first little profit last year since 1996.

I am trying to claim Pension Credit, since I believe I am entitled according to their own calculator on their site. The DWP are demanding that I release trading details from the company, i.e. bank account statements, any sales etc.

My co director does not agree to allow the release of the information, so I cannot. I also do not have board permission to access the business money. Thus, I cannot see how DWP can demand the information. What should I do?

So let me get this right in nearly 20 years the business has made a profit once ?

Time to find something else a bit more lucrative i would suggest.

FBaby

You are surprised that DWP would be a bit suspicious of the operation of the business? Who would care to keep a business going for 20 years that brings in no profit?

densol_2

If its a limited company the certified accounts are available from companies house - NO consent is required. 1996 and no profit and no income ? What on earth have you lived on .... Oh yes in work benefits - save your work is none existant. DWP are more enquiring than WTC believe it or not !

tomtom256

plane007 wrote: »

I am one of two directors of a limited company. I am on Working Tax Credit and having received absolutely no payments for work from the company or anywhere else, as shown in my personal bank account submitteed to them. The company accounts show it has no value with over £8000 accrued losses. It is minimally trading with its first little profit last year since 1996.

I am trying to claim Pension Credit, since I believe I am entitled according to their own calculator on their site. The DWP are demanding that I release trading details from the company, i.e. bank account statements, any sales etc.

My co director does not agree to allow the release of the information, so I cannot. I also do not have board permission to access the business money. Thus, I cannot see how DWP can demand the information. What should I do?

You either provide it or get no benefits.

The DWP can ask for anything they see fit for benefit purposes and failure to provide the information generally results in benefit not being paid.

What should you do, whatever you want.

Why doesn't your business partner want to release the information, dodgy dealings and/or something to hide?

If the business is above board then both of you have nothing to fear.

Housing_Benefit_Officer

A bogus company created for the purpose of enabling the OP to claim in work benefits.

Cheeky_Monkey

My thoughts exactly HBO :beer:

tea-bag

fed_up_and_stressed wrote: »

So let me get this right in nearly 20 years the business has made a profit once ?

Time to find something else a bit more lucrative i would suggest.

They have it's called benefits!

NYM

I doubt we'll hear from the OP again....:D