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Coronovirus Financial Advice
dickclementine
Posts: 1 Newbie
November 2019 my wife ended her successful and well paid job and borrowed £10,000 to buy a franchise in the childcare and education sector.
Business was slowly picking up but she needed to supplement the very limited income from the new franchise with a zero hours contract in a local golf club.
Both of these have now been stopped due to the pandemic and we're not sure what her entitlement is.
I am self employed with a fair amount of savings put aside for my own future tax payments etc. My profit is around £20K per annum.
It looks like due to my savings she is entitled to very little and we won't survive long on just my money alone.
Is it wise to spend most of my savings by paying off the franchise loan, credit cards and car loan etc in the vain hope of getting more help ??
There doesn't appear to be any restrictions on benefit for PAYE employees with savings.
Any advice would be most welcome.
Thanks peeps.
Business was slowly picking up but she needed to supplement the very limited income from the new franchise with a zero hours contract in a local golf club.
Both of these have now been stopped due to the pandemic and we're not sure what her entitlement is.
I am self employed with a fair amount of savings put aside for my own future tax payments etc. My profit is around £20K per annum.
It looks like due to my savings she is entitled to very little and we won't survive long on just my money alone.
Is it wise to spend most of my savings by paying off the franchise loan, credit cards and car loan etc in the vain hope of getting more help ??
There doesn't appear to be any restrictions on benefit for PAYE employees with savings.
Any advice would be most welcome.
Thanks peeps.
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