"Unemployed" between projects?

[psychocandy]

Nope they didnt even check. Like I said the general attitude was - oh well its contrib based so we won't bother with all that. I get the feeling that if it was the other one they should have checked.

However, I will reiterate I did not lie on any of the forms. The £16K can be a problem I guess. But, remember, its YOUR savings that matter not your partners for contrib-based.

And remember, those of us who split dividends with partners - they money does legally have to go to the right shareholder after all.

In my case, also, savings would have been bigger but permie days of several years ago (and time not working) left me with some very hefty credit card debts to pay. Luckily, contracting has allowed me to clear those and have a small savings lump sum.

[MPwannadecentincome]

Contribution-based Jobseeker's Allowance entitlement (JSA-C) is based on Class 1 NI contributions in the two complete tax years preceding the benefit year of claim. It has got nothing to do with one's partners earnings.

Sometimes the muppets at the DWP award JSA-C by mistake or because they're not bothered to check properly or most likely because they're more useless than the benefit recipients.

If you ask for Contribution-based JSA then as far as I can remember the form does not ask for details of savings anywhere, only details of income.

No doubt I will remember in a couple of weeks when I am benched without a warchest.

[petergriffin]

For your peace of mind, I can pass your details to the DWP and HMRC to check them out. Please include name surname, NINO and LTD registration, I'll pass your details for free. If you can't help a fellow contractor...

[NickFitz]

So to summarise: money in the company bank account belongs to the company, not to you personally, unless you're planning to claim JSA in which case it magically belongs to you personally?

[petergriffin]

So to summarise: money in the company bank account belongs to the company, not to you personally, unless you're planning to claim JSA in which case it magically belongs to you personally?

It doesn't matter if it's not yours personally, it counts as capital and must be declared. There's no grey area here, not declaring it is benefit fraud, and because JSA counts as taxable income, it's also tax evasion.

[eek]

It doesn't matter if it's not yours personally, it counts as capital and must be declared. There's no grey area here, not declaring it is benefit fraud, and because JSA counts as taxable income, it's also tax evasion.

+1. The assets of the proportion of the company you own counts towards the limit. That limit even excludes what the company owes HMRC for corporation tax (strange I know).

I really, really wouldn't be trying to pull a fast one nowadays. The amount of data HMRC has now is far, far greater than it was in the past.

[psychocandy]

So to summarise: money in the company bank account belongs to the company, not to you personally, unless you're planning to claim JSA in which case it magically belongs to you personally?

Exactly. Sounds wrong to me. Im sure someone on here a few months ago said the jobcentre people said he had to use the company money that was in the account left to pay VAT and CT. Surely this can't be right.

[psychocandy]

It doesn't matter if it's not yours personally, it counts as capital and must be declared. There's no grey area here, not declaring it is benefit fraud, and because JSA counts as taxable income, it's also tax evasion.

BUT the subject came up when I spoke to them but at no point did they ask how much the company had in its bank account. In fact, all they wanted was what was in my my name. Even stuff in my wifes name didnt matter for contrib-JSA.

[psychocandy]

+1. The assets of the proportion of the company you own counts towards the limit. That limit even excludes what the company owes HMRC for corporation tax (strange I know).

I really, really wouldn't be trying to pull a fast one nowadays. The amount of data HMRC has now is far, far greater than it was in the past.

As I've said from day one - no fast ones pulled by me at least. I've been open and honest about anything I've been asked.

[mudskipper]

https://www.gov.uk/jobseekers-allowance/what-youll-get

Savings don't count for contribution based JSA - that's the point - you get it for 6 months for having contributed to the system.

Savings come into it when that runs out and you want to claim income based JSA.