Sole Trader - Income Zero - £16k+ Savings

justwhat

staffsuk if you are only a little over UC thresholds you may get away with buying a van/stock?????

staffsuk

justwhat said:

staffsuk if you are only a little over UC thresholds you may get away with buying a van/stock?????

I think as @mwarby said above, there are strict rules regarding intentional deprivation, though I don't know exactly what they are. I have separate bank accounts (personal / business) and my savings are all in my personal account. I think you ned to be under £6k in saving to be eligible for the full U/C amount (£94?). Any capital/ savings you have between £6,000 and £16,000 is treated as if it gives you a monthly income of £4.35 for each £250, or part of £250, regardless of whether it does or not.

justwhat

Yup depends whats reasonable and what is not. May also depend on what you have done in the past. 

staffsuk

Reports coming out that Sunak is being lobbied to mirror the approach of Norway, where the government is to pay self-employed workers grants equating to 80 per cent of their average income over the past three years. Let's see what this coming week brings....