Why £1 earnings to qualify for Help To Save?

CGold

Hi there,

I'm very confused about the £1 earnings threshold for Help To Save. Why such a low amount? What does it mean? Could you be to all intents & purposes unemployed, but do a bit of casual work for someone (in order to earn any small amount over £1) and that then means you qualify?

Thanks in advance for any help

Muttleythefrog

Is it not in effect a flag for those working?

In April 2028 the scheme expands to include some not in work

CGold

I don't know, is it? The amount you had to earn used to be higher. I don't get the point of it being just £1. I don't work, so what I really want to know is if doing a very small amount of casual work would mean I qualify? I need to sell some stuff for my parents on eBay for example, would that count? 

Grumpy_chap

CGold said:

I need to sell some stuff for my parents on eBay for example, would that count? 

Are you just selling your parent's old stuff or trading?
If the latter, are you registered as a Sole Trader and paying any income tax arising?  Are you registered as a private or business seller on eBay?

itsthelittlethings

I suppose they might ask for some proof you are working.

sheramber

If you were claiming you were self employed selling on eBay UC would require monthly accounts of your income and expenditure. 

I think the £1 is a nominal figure to prove you are earning as well as claiming UC, but allows those on low income to be eligible. 

CGold

Grumpy_chap said:

CGold said:

I need to sell some stuff for my parents on eBay for example, would that count? 

Are you just selling your parent's old stuff or trading?
If the latter, are you registered as a Sole Trader and paying any income tax arising?  Are you registered as a private or business seller on eBay?

As I said, just selling my parent's old stuff. I know that trading is different.

Grumpy_chap

CGold said:

Grumpy_chap said:

CGold said:

I need to sell some stuff for my parents on eBay for example, would that count? 

Are you just selling your parent's old stuff or trading?
If the latter, are you registered as a Sole Trader and paying any income tax arising?  Are you registered as a private or business seller on eBay?

As I said, just selling my parent's old stuff. I know that trading is different.

Then it's not earnings as I understand it 

CGold

Grumpy_chap said:

CGold said:

Grumpy_chap said:

CGold said:

I need to sell some stuff for my parents on eBay for example, would that count? 

Are you just selling your parent's old stuff or trading?
If the latter, are you registered as a Sole Trader and paying any income tax arising?  Are you registered as a private or business seller on eBay?

As I said, just selling my parent's old stuff. I know that trading is different.

Then it's not earnings as I understand it 

I meant as in: they pay me to sell it for them. So a bit of casual labour for them. Like if I did some gardening for them or something.

Muttleythefrog

Now it sounds like self employment - providing a service for others and being paid for that

Grumpy_chap

Muttleythefrog said:

Now it sounds like self employment - providing a service for others and being paid for that

And the OP will need to register as Sole Trader and pay any income tax arising (allowances may be available).  UC will potentially want the earnings reported.