Optimum Salary - 2011/12

[DeludedAussie]

If you (or you and your partner if you are married) have cash assests over 16k then you will get nothing/nada/zip = means tested

If you have assets over 16k then you COULD be eligable for jobseekers (but not housing benefit etc) if you have paid the "minimum NIC contributions" over the last 2 "qualifying years". a benefit year is not calendar year (of course) it's the tax year; apr-march.

So basically, thank you for all your contributions in the past 20+ years, but if you didn't contribute in the last 2, you get **** all, especially if you have been prudent and have some savings. I had this situation when I took a career break a while back. went travelling, came back, foolishly had more than 16k in my bank and got zero support.

if you want to benefit in this country. live live to the max & have zero savings = Win!

oh and heres a nice kicker, when I did get this current contract and started up a limited, the government offered me 50 quid a week or something (equivilent to jobseekers) for setting up a company - I would have preferred to have that help when I was seeing my savings disapear instead of when i'm pulling in 200k a year.

go figure

Do you have a link to where you got this £50 a week for setting up a LTD?

[monobrow]

Do you have a link to where you got this £50 a week for setting up a LTD?

I've spent the last hour searching and can't find it. I was sent a pre printed form when I shut down my jobseekers "claim". oh yes, I sitll had to be signed on and attend to get a credit to my NI contributions.

Also, for the record, I didn't take the "grant", I assumed/hoped there were people who needed it more than I did.

[sktaxadvice]

You should always consider your other income sources and for both tax and NIC before deciding your remuneration package from your Ltd company