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How the self-employed claim universal credit
KEY POINTS
- Universal credit is much more complex than tax credits for self-employed claimants.
- A self-employed person will be subject to a minimum income floor.
- Beware paying large bills or a bonus in a month when income receipts are low.
- No universal credit is payable for individuals with capital in excess of £16 000.
- If a claimant trades through a company the income from it is treated as self-employed earnings.
Advisers with clients who claim tax credits will soon have to get to grips with universal credit the new working age benefit that by 2019 is expected to replace income support income-based jobseeker’s allowance income-based employment and support allowance housing benefit child tax credit and working tax credit.
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