Unemployment insurance

[psychocandy]

You got away with it then as they are not cross checking databases yet I was told quite clearly when I had to claim a while ago to lose the directorships & shut the companies down pay all the corp tax due before HMRC start cross checking...…….
https://www.gov.uk/self-employment-and-universal-credit
"Everyone claiming Universal Credit needs to report their self-employed earnings at the end of each monthly assessment period. This includes company directors, even those paying themselves by PAYE.
You’ll need to report payments into and out of your business in the assessment period. This includes:

• total amount your business received
• how much your business spent on different types of expenses, such as travel costs, stock, equipment and tools, clothing and office costs
• how much tax and National Insurance you paid
• any money you paid into a pension"

This effectively means you get no money from UC system unless you want to self report this financial data to them. If you knowingly do not tell the whole truth then sooner or later the HMRC will drag you into court. All for £317.82 a month + Mortgage Interest relief up to £200K means its not worth doing for most self employed IT contractors.

Might have changed - its been a few years. And at the time the JC staff didnt really know how to proceed.

At the time, I just got P45 from accountant. Didnt shut down limited.

[uk contractor]

Might have changed - its been a few years. And at the time the JC staff didnt really know how to proceed.

At the time, I just got P45 from accountant. Didnt shut down limited.

Yeah its changed a lot now probably easier to leave the country come back in a boat (one preferably a hard up fellow UK contractor just sold no less!) & ask for economic …. sorry I meant political asylum from EU might even work!

[Magpie252]

Erm ...



Can he even do that?

Not unless he's been paying enough Class 1 NI contributions on the side