minimum income floor is it gross or net?

uberdriver95

is the minimum income floor for gainfully self employed a gross or net figure set by dwp??

Alice_Holt

Neither.   
  The minimum income floor is an assumed level of earnings that the Department for Work and Pensions (DWP) uses to calculate benefit payments for self-employed people.


https://www.citizensadvice.org.uk/benefits/universal-credit/on-universal-credit/how-universal-credit-payments-work-if-youre-self-employed/

"To work out your minimum income floor, you need to:

1. Multiply the minimum wage for your age group (£8.91 for the over 23's) by the number of hours you’re expected to work

2. Multiply that number by 52 

3. Divide it by 12 to get a monthly figure

The number you’re left with is your minimum income floor. This is also known as your ‘individual earnings threshold’."  

https://www.gov.uk/government/publications/universal-credit-and-self-employment-quick-guide/universal-credit-and-self-employment-quick-guide






Your earnings should be taken by UC as 'net'.
 That is self-employed income received in the period, less allowable business expenses during the period.

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

https://www.gov.uk/government/publications/universal-credit-and-self-employment-quick-guide/how-to-report-your-earnings-from-self-employment


Note -  From your other thread, you may wish to check with UC that you are correctly reporting your vehicle expenses:

" If you buy or use a motorbike or scooter, or a vehicle that is adapted for business use (such as a van, driving instructor dual-control car or black cab), you can either:

• report the actual amount of expenses you have incurred for your business for the vehicle

• tell us how many business miles you have travelled in the assessment period

If you use a normal, unadapted car (including a minicab), you must tell us how many business miles you have travelled. Read how to report this in ‘Flat rate expenses’

If your vehicle is unadapted, are you telling UC your business miles (rather than vehicle lease costs) ?

See: https://forums.moneysavingexpert.com/discussion/6305430/minimum-income-floor-before-or-after-expenses/p1

poppy12345

Don't understand why you started a new thread when you already have a thread regarding the MIF here. It's less confusing if you keep to the same thread. https://forums.moneysavingexpert.com/discussion/6305430/minimum-income-floor-before-or-after-expenses#latest