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Reply to: Optimum Salary - 2011/12
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Previously on "Optimum Salary - 2011/12"
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You should always consider your other income sources and for both tax and NIC before deciding your remuneration package from your Ltd company
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Originally posted by DeludedAussie View PostDo you have a link to where you got this £50 a week for setting up a LTD?
Also, for the record, I didn't take the "grant", I assumed/hoped there were people who needed it more than I did.
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Originally posted by monobrow View PostIf 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
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Originally posted by monobrow View Postoh 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
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Originally posted by KackAttack View Post
I have recently returned to contacting after being made redundant - to my dismay I could not claim any JSA due to insuffient contributions.
So you should have appealed. Job Centre staff do get it wrong you know, simply can't be bothered or "misinterpret" targets - Government admits Jobcentres set targets to take away benefits | Politics | guardian.co.uk
Edited to say: if you are married or living with someone as a couple then you won't get any money anyway if they are working and earn enough to pay NI. And living with someone as a couple doesn't mean just a spouse or sexual partner it can mean a sibling or a friend depending on how the person who reads your form interprets the information.Last edited by SueEllen; 20 April 2011, 12:37.
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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
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Originally posted by MrRobin View PostI didn't realise there was a minimum you had to pay in before you could start claiming benefits??
How do these people who have never worked a day in their lives do it?
Apart from workshy tossers, there are other people who haven't worked because they are unemployable (severely disabled or chronically sick for example) - we pay them money so they can eat. HTH
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Originally posted by MrRobin View PostI didn't realise there was a minimum you had to pay in before you could start claiming benefits??
How do these people who have never worked a day in their lives do it?
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I didn't realise there was a minimum you had to pay in before you could start claiming benefits??
How do these people who have never worked a day in their lives do it?
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Thanks, that is what I was looking for.
I was only a permie for 7 months, prior to that was contracting - hence the gap in contributions.
Ironically got made redundant from the permie position which was shorter than all contracts I have worked on
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I suspect it was the 'return to contracting' pre-permie time that caused the problem.
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Check this recent thread to see if it has the info you are looking for.
How come, as a permie, you made insufficient contributions to entitle you to JSA?
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Optimum Salary - 2011/12
I always get confused with salaries /LEL / personal allowance / primary threshold.
I have recently returned to contacting after being made redundant - to my dismay I could not claim any JSA due to insuffient contributions.
What is the optimum level of salary, which pays no / limited income tax & NI whilst retaining entitlement to JSA?
If I pay 7475 I am assuming no income tax or NI is due, but is this enough to claim benefits at a future date?Tags: None
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