I have been approached by a couple of sole directors of limited companies about universal credit. Unfortunately they have lost key contracts this month.
To be honest I am not sure how universal credit works. Normally state benefits would be outside the area of Accountancy though I guess we all need to understand how it works inthe current climate. My clients have contacted the relevant departments and online but seem to be getting no where and getting through to the helpline hasn't been easy for them. The advisers on the helpline do not seem particularly knowledgeable either
Would it help their chances of getting universal credit increase if we issue their P45 ? I know there are multiple factors that determine amount of universal credit they receive, does universal credit take into account of their income in 2019-20 tax year or will look at the current situation ?
Maybe they should wait until government is clear on the Job Rentention Scheme for such directors ?