Claiming universal credit if a director of a limited company

mantistobogan

Hi,

I am a director of two limited companies which i have been running for the past 8-9 years, I tried to create two companies to keep my finances organised, It has all turned into a mess, I was trading in goods online. Now everything has gone haywire, for the last two years they have barely been going and i have been selling off as much stock just to try and keep the companies going, I have ended in up in debt, at the moment i do not have much stock left and the companies owe money. I have no idea what to do on that side, on my personal side I have not had a source of income for the past two years and am now really struggling to get by. I have no idea if i would be entitled to any universal credit. I have really hit a low point over the last few months and thought this is the only thing I can do to get by now.

any help or advise would be greatly appreciated

Alice_Holt

For UC purposes I think you would be likely to be classed as self employed, so:

https://www.citizensadvice.org.uk/benefits/universal-credit/before-you-apply/self-employed/

https://www.gov.uk/self-employment-and-universal-credit

https://www.litrg.org.uk/tax-guides/self-employment/working-out-profits-losses-and-capital-allowance/how-do-i-work-out-my-0

https://www.moneyadviceservice.org.uk/en/articles/universal-credit-for-the-self-employed