UC - earnings below minimum income floor for a one off month.



  • seatbeltnoob
    seatbeltnoob Posts: 1,309 Forumite
    First Anniversary First Post Name Dropper Combo Breaker

    My comment about the shares was really in the context that, as I read what was posted, the OP seemed to be treating the shareholding (often nominal) and the Director's Loan as the same thing.  They are not.  There are significant differences between the owner introducing additional share capital to the Ltd Co. or providing funding by way of Director's Loan to the Ltd Co.  Even if the impact on UC is zero, the difference are important enough that it is worth being sure not to conflate the two.

    Sorry about the late reply, Yamor has seemed to clarify.

    You referred to it as capital, and I answered based on the wording. Capital that counts towards your 16K/6K UC thresholds are savings, cash in hand, cash at bank (savins and currents), as well as stocks and shares as investments.

    The capital you have in your own business that you control (your shareholding) is disregarded.

    There is guidance on the cash in the business, that the cash must be in use and required for day to day running of the business.

    it was something I looked into, hence why I am trying to not pay myself through PAYE and draw down the DLA. But at the moment with accrued losses, unless I can earn enough to write off all the accrued losses in one month. I have to keep paying myself through PAYE - because it becomes quite disadvantages to not do PAYE for reasons pointed out earlier
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