job seeker allowance , 20k in bank account , 40k debt

[junior contractor]

Have you paid NI? My understanding is that you can claim 6 months of contribution based JSA which isn't means tested. There's some debate as to whether company money is included in means tested JSA - seems to me the simplest thing would be to pay your corp tax early, then it's a non-issue. Good luck, hope you get sorted.

[mudskipper]

Have you paid NI? My understanding is that you can claim 6 months of contribution based JSA which isn't means tested. There's some debate as to whether company money is included in means tested JSA - seems to me the simplest thing would be to pay your corp tax early, then it's a non-issue. Good luck, hope you get sorted.

[TheFaQQer]

Having a significant bank balance of £20k, which is loaned from the company, whilst having a corporate debt to HMRC is crazy.

That said, as MS says - if you have paid NI then you can get contributions-based JSA as long as you are redundant. It's up to £72.40 a week, depending on your age.

You won't be eligible for any other JSA though because you have £20k in savings.

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

[BrilloPad]

Blow the £20k on women and drugs. Or squander it. Then go bankrupt.

HTH

[TheFaQQer]

Blow the £20k on women and drugs. Or squander it. Then go bankrupt.

HTH

<OG>Is that what you did?</OG>

[SimonMac]

Why are you lumping your Corp Tax and Loans / Credit Cards into one?

The CT is the Companies Debt, the Loans and Credit Cards are your own

[MyUserName]

Why are you lumping your Corp Tax and Loans / Credit Cards into one?

The CT is the Companies Debt, the Loans and Credit Cards are your own

Because this post is a wind up?

[junior contractor]

20k may sound too much but i have crazy out going ( 1300£ corporation tax 800£ credit card and loan etc ) its only couple of month worth of expenses thats why im thinking applying for job seeker allowance before situation gets worse.

already down graded my house and on flat share and sold my car

[Mincepie]

I love these posts normally made from the bar after an early trap

[tractor]

...

20k may sound too much but i have crazy out going ( 1300£ corporation tax 800£ credit card and loan etc ) its only couple of month worth of expenses thats why im thinking applying for job seeker allowance before situation gets worse.

already down graded my house and on flat share and sold my car

Corporation Tax is not an outgoing, it is the repayment of money that you used that did not belong to you.