Tax Question
Can an individual on full time benefits set up a trading company and be a director of a company? What will be the impact on corporation tax and on the benefits claimed?
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Group: Sole traders/self employed business forum
A place to discuss all matters affecting sole traders and self employed workers, such as registering for SE, dealing with HMRC, and issues surrounding
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Ask at the JobCentre - that's what I did.
I have been claiming Jobseekers allowance since I was made redundant from my last full-time job in June last year.
I have filled in many forms and always been truthful about what I intended to do. The company isn't making an real profit yet, so I can't afford to pay myself.
HRMC office told me that I could pay mayself £94.99 a week and still continue to claim JobSeekers allowance, hence I'm currently having my NI paid by the JobCentre.
The trouble is JS allowance comes to an end soon, so I don't know what will happen then.
The Job Centre were also happy to know that I am setting up another "self-emlpoyed" business soon.