University Voluntary Severance + Benefits Claim

johnsmithparking

Hi,
The university I worked at offered a VSS (Voluntary Severance Scheme) which I applied for and was duly accepted. I left at the end of April and walked away with approx £35K. I have a second property that my wife and I jointly own and we rent it out making about £100 each per month profit after tax/costs. 

I've never previously claimed benefits so I'm not sure where to even begin. 

Firstly, with the VSS payout and rental income can I even claim benefits? 
Secondly, I'm thinking about setting up my own business later in the year, how does this affect any benefit claim? 

I'll be looking for work in the mean time. 

Any advice would be much appreciated.

RunsFromRobots

New Style JSA is your best bet. It's not means tested and it only lasts for up to six months. 

I don't believe rental income affects it either, but you will need to declare it. 

Taking steps to go self-employed are ok but you will need to declare anything you earn.

marcia_

johnsmithparking said:

Hi,
The university I worked at offered a VSS (Voluntary Severance Scheme) which I applied for and was duly accepted. I left at the end of April and walked away with approx £35K. I have a second property that my wife and I jointly own and we rent it out making about £100 each per month profit after tax/costs. 

I've never previously claimed benefits so I'm not sure where to even begin. 

Firstly, with the VSS payout and rental income can I even claim benefits? 
Secondly, I'm thinking about setting up my own business later in the year, how does this affect any benefit claim? 

I'll be looking for work in the mean time. 

Any advice would be much appreciated.

 Your payout over £16k will mean you can't claim means tested benefits universal credit. If you own property that you do not live in same thing. 

 As the poster above says job seekers allowance is your only option.