Reply to: Self-employed? Surely we're employees of ltd company we happen to be directors of?

[b0redom]

With all this talk of needing warchests etc, are there really any contractors on this site who have savings (including equity in property) of less than 16k? Surely you guys are doing something wrong?

[d000hg]

The biggest blow was once you get through all the soul destroying forms you get a letter back listing all the benefits stating which you can get and which you won't. I found it quite insulting as it is obviously automatically generated with the correct paragraph but the wording reads like I am getting a bollocking. You cannot claim Housing Benefit, You cannot claim CT relief You cannot ... etc etc. Very insensitively worded.

Are you sure you're cut out to be a drain on society?

[VectraMan]

Are you sure thats right? I was sure it was over £6K you started to lose and then by £16K it was zero?

I understood you got nothing at £16K, so that would make sense. I can't believe the government is paying money to people with £85K in savings; we'd have read about that in The Daily Mail by now if it was true.

[psychocandy]

It used to be 8k but they changed it so it was in line with housing benefit / Ctax to 16k.

However considering all the cuts going on it could be anything now!

Best to just state it though - you dont want them camped outside your house spying!

OK. Sure I read 6K not that long ago.

[Podgy]

Are you sure thats right? I was sure it was over £6K you started to lose and then by £16K it was zero?

It used to be 8k but they changed it so it was in line with housing benefit / Ctax to 16k.

However considering all the cuts going on it could be anything now!

Best to just state it though - you dont want them camped outside your house spying!

[psychocandy]

You do realise you will only get morgage interest payments - nothing towards repayment & its only payable after 6 months. Its also their calculation so wont match whatever your paying.

Housing benefit I think is payable straight away.

If you've got over 16k they take £1 away for every £1000 over the 16K - so you would have to have over 86K to get nothing! Its based on the principal that the interest on the savings is an income - could be lower now as interest rates are so low).

The best bit is you wont have to pay council tax - although now I think they deduct a small contribution from the JSA.

Are you sure thats right? I was sure it was over £6K you started to lose and then by £16K it was zero?

[Podgy]

You do realise you will only get morgage interest payments - nothing towards repayment & its only payable after 6 months. Its also their calculation so wont match whatever your paying.

Housing benefit I think is payable straight away.

If you've got over 16k they take £1 away for every £1000 over the 16K - so you would have to have over 86K to get nothing! Its based on the principal that the interest on the savings is an income - could be lower now as interest rates are so low).

The best bit is you wont have to pay council tax - although now I think they deduct a small contribution from the JSA.

[psychocandy]

It does seem they are quite hard on you, which is a good thing from a tax-payers point of view. Yesterday the Job Centre lady phoned to complain that I hadn't uploaded my c.v. to their job portal. I guess you need to be signed off sick, or be a single mother to really benefit from benefits.

I had that off them a while ago too. I just did what they asked to save myself the grief.

[TheFaQQer]

Yesterday the Job Centre lady phoned to complain that I hadn't uploaded my c.v. to their job portal.

Make sure you don't make it private if you are actually using their portal to apply for jobs.

If you make it private, it sends out a blank email rather than your CV, according to Private Eye

[northernladuk]

No mortgage interest here. The government shouldn't be supporting people's property investments.

I missed out on the contribution JSA as I resigned from my last job, but although they say £16K for the income based JSA, I get the impression that the amount I have in savings (which is slightly less) means I won't get anything. But as someone said, if I keep not working it's obviously going to be going downwards quite fast.

It does seem they are quite hard on you, which is a good thing from a tax-payers point of view. Yesterday the Job Centre lady phoned to complain that I hadn't uploaded my c.v. to their job portal. I guess you need to be signed off sick, or be a single mother to really benefit from benefits.

*Cough* immigrant *cough*

[VectraMan]

If you want to take our taxes to pay your mortgage interest, fill in the forms and stop whining.

No mortgage interest here. The government shouldn't be supporting people's property investments.

I missed out on the contribution JSA as I resigned from my last job, but although they say £16K for the income based JSA, I get the impression that the amount I have in savings (which is slightly less) means I won't get anything. But as someone said, if I keep not working it's obviously going to be going downwards quite fast.

It does seem they are quite hard on you, which is a good thing from a tax-payers point of view. Yesterday the Job Centre lady phoned to complain that I hadn't uploaded my c.v. to their job portal. I guess you need to be signed off sick, or be a single mother to really benefit from benefits.

[northernladuk]

Aye. Thats what I mean. For the contrib JSA theres no means tested? Makes sense I guess.

Although 16K is a little low.

Wonder what happens if you start off with £16K then eat into it at, say, a rate of £2K a month. At month 1, you'd be under to the tune of £14K, then £12K etc.

It would be worth asking them to review every month. (Im sure between £6K and £16K isnt there a drop off of benefits?)

Yep. Bearing in mind this also includes your home to which you had to put a deposit in which is likely to be bigger than this let alone paying it off and increase in value it is hard to avoid. As podgy says to get everything out of the system you really have to have (or make them think you have) absolutely no money.

The biggest blow was once you get through all the soul destroying forms you get a letter back listing all the benefits stating which you can get and which you won't. I found it quite insulting as it is obviously automatically generated with the correct paragraph but the wording reads like I am getting a bollocking. You cannot claim Housing Benefit, You cannot claim CT relief You cannot ... etc etc. Very insensitively worded.

Did make me wonder after what you have to do to actually be eligible for them all and all I could think of is be extremely poor, know the system/commiting fraud or be an immigrant... Your average joe that has been put out of work hasn't a chance at most of them. Quite annoying... hence I will never go through this process again.

[Podgy]

I think the idea is you have to have no income and be (really really) poor - the forms are designed for you to give up unless you really need the cash.

Must say I never had to provide all my business accounts.

Still they have put a new system in now.

[psychocandy]

Don't quote me on it, but there has to be a cutoff point for the means tested benefits - else why are they means tested...?

£16k rings a bell, but I guess the reality is a little more complicated.

Aye. Thats what I mean. For the contrib JSA theres no means tested? Makes sense I guess.

Although 16K is a little low.

Wonder what happens if you start off with £16K then eat into it at, say, a rate of £2K a month. At month 1, you'd be under to the tune of £14K, then £12K etc.

It would be worth asking them to review every month. (Im sure between £6K and £16K isnt there a drop off of benefits?)

[northernladuk]

Don't quote me on it, but there has to be a cutoff point for the means tested benefits - else why are they means tested...?

£16k rings a bell, but I guess the reality is a little more complicated.

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