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What is the self employment earnings benefit cap?

What is the self employment earnings benefit cap?

how much can you earn as a single man over 35 in self employment before your not entitled to full housing benefit?

and is it a weekly amount that you cant go over or anual amount,

could you potentially earn nothing all year but the whole years wages at the end and still not have to contribute because your anual turnover wasnt enough or is it a monthly turnover they use to decide your contributions towards the rent they pay for you.

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13th Sep 2017 21:39

You don't happen to own a company that's a record label, do you?

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14th Sep 2017 00:26

The self employment earnings benefit cap is a tall pointy hat with D written on it that is worn by idiots who don't seek professional advice.

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By bajones
14th Sep 2017 08:38

At last! A post worthy of the anonymous tag, because it's regarding potential benefit fraud.

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14th Sep 2017 09:08

Does it matter? If your income is such that you don't qualify for benefits surely that's a good thing for you, your business, your family and the good tax payers of this country?

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14th Sep 2017 12:32

I'm not 100% sure but i think its around 5k per anum around £100 a week or something, its a good question though i ve been stung a few times in the past over this.

I think the person posting this just wanted to know how much they would owe towards rent if his business earnings went above a certain amount.
I didnt get the impression this was about benefit fraud but more about making sure the person knows how much they are entitled to and how much they need to pay out as the months and weeks of business are going along. Theres nothing worse than getting an unexpected bill for overpayments at the end of the year from benefits simply because you went over a few pounds here and there throughout the year. Its much better to be aware of what you owe as you owe it. I think you guys could take a leaf out of this guys book. This is ultimate money management at a very small financial level (so dont be snobby in your comments). This is vital thinking for anyone on low income running a small business trying to get off the breadline. I'm ashamed at some of the above comments. if you dont have any advice why waste time typing anything at all.

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to Alex Sawyer
14th Sep 2017 13:01

You make a fair point. We have a social care system in this country to be proud of. No one should go homeless or hungry in a county that has so much, and I have absolutely no problem in helping people who are in need, for whatever reason.

Having spent a whole lifetime dealing with people who refuse to work overtime because NI kicks in, who want to reduce their hours of work because they lose benefits, or will refuse to earn more than a certain amount in case they lose benefits or variations of the above, one tends to be a little intolerant of people who would rather have free money than work for it and contribute.

In my view, and I'm still entitled to that having been a tax payer for almost 50 years, if you are in a position to earn above the benefit level then that's what you should be doing. We are breeding entire generations who are raised and live off benefits and that, as far as I'm concerned, is not what it's for. Not that I'm suggesting that any of this applies to the OP.

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By Matrix
to Alex Sawyer
14th Sep 2017 13:14

They are potentially splitting the profits between self-employment and a limited company, so I agree this is potential benefit fraud.

The OP also asked about sole trader and Ltd Co transfers a few minutes before posting this.

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to Matrix
14th Sep 2017 23:27

no this is not benefit fraud read the post properly, they are not benefiting from any profit made by the limited company its a seperate entity
plus the limited company hasnt made any profit
not that benefits care how much your limited company makes
the rules are clear they only care how much you take home
and if its under 5k per annum then your entitled to it because you simply dont earn enough to sustain yourself
if the 5k profit is left in the limited company its even worse because its taxed on when sole tarders making the same amount pay nothing up to 11k
this is simply going around the houses to operate as a limited company but with sole trader rights thus reaping the benfits of a limited company but without the tax implications
it makes no diference to the tax man or the tax payer if it was done this way or as a sole trader theres still no tax owed as ts below 11k and if a man has only has access to 5k in his personal bank account through out the the year he should be entitled to financial support, maybe with less tax implications his income stands a better chance of reaching way above the benefit cap and mid range tax brackets in later years thus paying more tax in the long run rather than cripple his growth with rent he cant pay and tax he wouldnt be getting if he was a sole trader

snobbery runs amock on this site i see

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to Alex Sawyer
15th Sep 2017 02:44

Again, you have switched to referring to yourself in the third person, for some reason.

(It occurs to me that you might think you can fool folk into thinking you are an unconnected good samaritan wading in to help the poor embattled OP. Bless.)

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By Matrix
to Alex Sawyer
15th Sep 2017 06:41

The benefits people do care how much your limited company makes. There are certainly anti-avoidance provisions to prevent shareholders in limited companies from rolling up profits and not taking these profits out to maximise their tax credit claim.

I don't know why you are operating as a sole trader and a limited company but you have come on this forum for advice and I have pointed out that, even if it was not your intention, there could be implications on your benefits from operating your businesses this way.

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to Matrix
16th Sep 2017 12:13

be specific.
how?
especially if the limited company doesnt make any profit?

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By Dib
15th Sep 2017 13:49

Just catching up on these related threads with OP posing as concerned contributor. you couldn't make it up - magic!

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15th Sep 2017 16:00

Is this AWEB trying to root out those they 'perceive' as troublemakers & trolls?

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