Hi everyone,
I have closed my limited company due to lack of contract work. I went to Uni for a little while to try a career change but have now quit and am on contribution based jobseekers allowance.
For this I get £71/week. I won't get more benefits since I'm means tested out with more than £16,000 savings.
Could I set myself up as a self-employed consultant? I imagine the drawback is that I have to pay myself based on PAYE when I get work. However, if I don't get work I can claim a low income and claim working tax credits not just JSA, is that right?
Or are you still better off with a Ltd company as a Director but pay yourself min wage or part time wage 16 hours as week in order to claim when you are out of contract?
I have closed my limited company due to lack of contract work. I went to Uni for a little while to try a career change but have now quit and am on contribution based jobseekers allowance.
For this I get £71/week. I won't get more benefits since I'm means tested out with more than £16,000 savings.
Could I set myself up as a self-employed consultant? I imagine the drawback is that I have to pay myself based on PAYE when I get work. However, if I don't get work I can claim a low income and claim working tax credits not just JSA, is that right?
Or are you still better off with a Ltd company as a Director but pay yourself min wage or part time wage 16 hours as week in order to claim when you are out of contract?
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