UNIVERSAL CREDIT Can I Claim ?Cant claim GRANT

alenW12

Hello everyone.
I hope you are all well.
I have never claimed any benefits so sorry if my questions are maybe naive.
I was always working as an employee until July 2017./last 20 years
Also renting one flat as the landlord -have bought to let mortgage 
I have started working as a chauffeur from April 2018, more like part-time, not making much but this would be considered self -employed.
From January 2020 my income was only around 1500-not working at all last 2.5 months
Just checked on HMRC website -i am not eligible for Self Employed Grant
Have ISA Shares ..No more savings...
I was under the impression at first that would be able to claim Grant but obviously not-suggesting there i can claim for Universal Credit.
I read somewhere as Millions already claimed but i didn't.
Can i claim it now ..?and what is the procedure?
Hopefully, someone can claim..
Thanks a lot@

poppy12345

Whether you're entitled to Universal Credit will depend on your circumstances. Savings/capital of more than £16,000 will exclude you from claiming. Put your details into a benefits calculator to check entitlement. https://www.entitledto.co.uk/

Jeremy535897

Why are you ineligible for the self employed grant? Is your rental income more than the self employed income in 2018/19?

You will have to take the value of your ISA shares into account when seeing what your capital is for universal credit. Any equity you have in your buy to let property would also be taken into account, although you could argue it is not able to be sold at present. You might see if you can get a 3 month break on mortgage payments.

alenW12

Thanks for the help.
Yes, you are right ..it is over £16 000 in shares.
So basically saving money is not always the smartest since you are kind of punished since you can only claim mortgage holiday(btw reduced tenant rent temporarily 1/3 since he is also in trouble.)

I

Jeremy535897

I see why you can't get universal credit, but what was making you ineligible for the self employed grant?

alenW12

Not 100 percent sure but i assume that is 
Profit from rental income is higher than 50 % than the profit from my driving job if my thinking is correct.

Jeremy535897

To fail the 50% test, your net rental income would have to be more than your self employed income, assuming that these are the only sources of taxable income you have. Dividends on ISA holdings are not taxable.