UC Calculator for the Self Employed?

staffsuk

Hi all!

So I was intrigued to read the recent news about the roll-out of UC. I'm self employed and used to claim WTC - I haven't claimed it since 2015 even though I am eligible based on my income and circumstances. I find I now just manage due to my VERY frugal lifestyle. For example my heating bills for the last 4 years have amounted to £0.00. I have no heating in my house whatsoever - amazing what one can get used to! Anyway I digress...

I haven't been able to find any sites that calculate what a SE person could expect to claim on UC. 'Entitled To' doesn't have options for the SE claiming UC that I could see and neither does the government's calculator.

I hasten to add I will not be making a claim due to the excessive hoops required to jump through by the SE in order to successfully claim UC in comparison to WTC - not least the requirement to keep an entirely differing set of figures to present to DWP. That and as I said I am managing

Nevertheless I'm intrigued as to why so little information is out there for the SE who will likely be moved over to UC as the roll-out ramps up. So using a simple case as a starting point how does one work entitlement out?

Lets try a single person with no dependants working 35 hours / week basing earnings on the MIF (35 x £7.50 x 52 = £13650). No dependants & £10k savings.

Anyone fancy a go at working that out :rotfl:

konark

I think the 10 grand savings might be a problem, are you sure this isn't capital for your business?

staffsuk

konark wrote: »

I think the 10 grand savings might be a problem, are you sure this isn't capital for your business?

AFAIK personal savings above £6k (up to a max of £16k where a claimant becomes ineligible) are calculated at a rate of £4.35 per £250 and treated as additional income / month. So £10k less £6k = £4k. £4K / £250 = 16. 16 x £4.35 = £69.60 / month. £69.60 x 12 = £835.20. So our example would be assumed to have an annual income of £13650 + £835.20 = £14485.20 - I think?!

It is just a made-up easy example - but I don't know of any calculators that can even work out entitlement for this simple example?

Alice_Holt

entitledto
https://www.entitledto.co.uk/

turn2us
https://benefits-calculator.turn2us.org.uk/AboutYou

davefrombristol

Quite cleverly this conservative government have managed to hide the fact that a huge number of people wont be able to claim tax credits when it moves over to universal credit.

Out of 5 million people that claim tax credits ( 4 million with children ) I wonder how many have more than £6000 in savings ?

After George Osborne robbed 3 billion from universal credit in 2015 I wonder how many more billion this will save them over the next few years.

You can forget about trying to save for a deposit to get on the housing ladder ! I'm so pleased that these cabinet ministers like Gauke, Truss & May are pressing ahead with the full roll out of Universal Credit as it should mark the end of their reign of power, but they are so daft and naive they don't realise it