Clarity on Working Tax Credit claiming ability...

dktreesea

duff67 wrote: »

Dktreesea - unfortunately not.

Once informed and if the JobCentre accept a Business Plan, you can apply for Enterprise Allowance which lasts for 12 weeks ( 6 weeks at £66 and another six weeks at approximately half that). Then it stops.

The JSA is stopped immediately on informing.

This is why WTC is crucial for me ATM

Are you sure? I was looking at the latest guff from the government's website on this topic, and it states:


"Help you can get

You could:

• get a business mentor to help you develop your business idea and start trading
• get a weekly allowance paid for up to 26 weeks (up to a total of £1,274)
• apply for a loan to help with start-up costs

The loan has to be paid back, the allowance doesn’t.
Any money you get doesn’t affect your Housing Benefit, tax credits, Income Tax, Universal Credit or Access to Work grant."


https://www.gov.uk/new-enterprise-allowance

duff67

dktreesea wrote: »

Are you sure? I was looking at the latest guff from the government's website on this topic, and it states:


"Help you can get

You could:

• get a business mentor to help you develop your business idea and start trading
• get a weekly allowance paid for up to 26 weeks (up to a total of £1,274)
• apply for a loan to help with start-up costs

The loan has to be paid back, the allowance doesn’t.
Any money you get doesn’t affect your Housing Benefit, tax credits, Income Tax, Universal Credit or Access to Work grant."


https://www.gov.uk/new-enterprise-allowance

Dktreesea - Yes. Still need to clarify but getting a bit clearer with the help on here

The mentor is neither here nor there.

The allowance is the Enterprise Allowance which, as per previous posts, I was informed was over 12/3 weeks but confirmed today as pymts over 26.

The loan I was unaware of, until a previous poster, gave me the link - but certainly of interest.


The Enterprise Allowance replaces JSA so the latter does stop, the moment you 'join' the self employment route and advise JobCentre.

More feasible now, to how it was initially covered with me.

dktreesea

I'm not sure that 26 weeks is enough to have the time to be able to start up a business. It should be for 52 weeks imho, i.e. the length of a full season.


Plus giving up JSA before being able to get NEA payments is, imho, quite risky. What if there's an 8 week delay? So what if it gets backdated. Not all businesses earn £70 a week from the day they are started.


This is from 2013 but updated for 2016 and sets out the pros and cons:
http://www.simplybusiness.co.uk/knowledge/articles/2013/05/national-enterprise-allowance/

duff67

dktreesea wrote: »

I'm not sure that 26 weeks is enough to have the time to be able to start up a business. It should be for 52 weeks imho, i.e. the length of a full season.


Plus giving up JSA before being able to get NEA payments is, imho, quite risky. What if there's an 8 week delay? So what if it gets backdated. Not all businesses earn £70 a week from the day they are started.


This is from 2013 but updated for 2016 and sets out the pros and cons:
http://www.simplybusiness.co.uk/knowledge/articles/2013/05/national-enterprise-allowance/

Hence my original post re WTC payments, which could make all the difference, especially in the early years of s/employment building.

I too feel it is a risk - slightly less if payments are over 26 weeks rather than 12 and slightly less again if WTC were confirmed.

Without either it would be 'suicide' , but faced with little options in the job market, perhaps even that option is better than the humiliation of weekly JobCentre visits/requirements and group sessions.

Thanks for the link re pros and cons. I will give it my fullest attention and, as with all advice and signposting, gratefully rec'd.