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Self Employed/Part Time Employed - UC/WTC/MIF/Applicable amount.....

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  • Zeldazog
    Zeldazog Posts: 291 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 29 March 2020 at 9:28PM
    Hermann said:
    I think there is an exemption for the first year of self employment called "Start up period" but then MIF kicks in, so Transition Protection is probably more beneficial.
    Yes, there is a first year exemption for MIF but I've alreay been in business for WELL over a year (so I'd expect it to kick in asap)  Unlike business advisors who say don't expect a profit until year 3, UC think you should be in position to pay all your overheads and a full time wage by the end of year one.....

  • Zeldazog
    Zeldazog Posts: 291 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Thanks @Hermann and @calcotti you've both answered my main questions and confirmed my thoughts.  And I think I answered the other question myself.  You've been really helpful 
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