Retired, Universal Credit
Silver_Simon
Posts: 10 Forumite
I am retired aged 71 with a partner who is 55. I receive solely my state pension. For ease of example I will use approx figures. My pension is say, £730 per month, I have been offered work photographing rugby matches at £50 each on a self employed basis, so October will give me 2 matches, total £100, my expenses, as per gov.uk for car, fuel, tax insurance etc., my website, Photoshop and home expenses, heating, rent, lighting etc. for one room, 'the office' would total £260, showing a loss of £160. My question is, will my loss of £160 be offset against my state pension for my UC assessment, therefore showing a net income of £730 less £160 equalling £570. Thank you
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Comments
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Any losses arising from your self employment can be carried forward from month to month when calculating your earnings . They cannot be offset against your unearned income such as your pension.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.0
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calcotti said:Any losses arising from your self employment can be carried forward from month to month when calculating your earnings . They cannot be offset against your unearned income such as your pension.0
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I meant that if you have a loss in one month you can use the loss to offset profit in later months.
Lots of guidance here.
https://www.gov.uk/government/publications/universal-credit-and-self-employment-quick-guide
Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.1 -
Yeah, I understand that but it won't help me at all. I have been offered work until the end of the season, 11 matches. I will never have more than two matches (£100) in a month, so carrying forward a loss is not beneficial. Seems unfair, UC can use unearned income when calculating my total income for assessment but I can't offset a loss against it. Thanks again.
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Silver_Simon said:I will never have more than two matches (£100) in a month, so carrying forward a loss is not beneficial.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.7
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calcotti said:Silver_Simon said:I will never have more than two matches (£100) in a month, so carrying forward a loss is not beneficial.0
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Silver_Simon said:. Life has changed, work is hard to come by and I have been forced to claim UC.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.4
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calcotti said:Silver_Simon said:. Life has changed, work is hard to come by and I have been forced to claim UC.0
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Silver_Simon said:calcotti said:Silver_Simon said:. Life has changed, work is hard to come by and I have been forced to claim UC.How is it income if you are losing £160/month? That is not an income, that is a loss.My advice would be to decline the offer. Either they need to pay you enough to actually make an income after your expenses, or it's not a financially viable venture.3
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He isn't losing money, it's just what can be claimed as an allowable expense for tax purposes etc.
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