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What do you do when the money runs out?

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    What do you do when the money runs out?

    Once I've finalised my accounts and paid my Corp tax & Inc Tax on divvies, there won't be much money left in the pot after not working for 6 months now.

    Do I need to liquidate the Ltd Co before I can go cap in hand to the job centre?

    #2
    Originally posted by Hiram King Of Tyre View Post
    Once I've finalised my accounts and paid my Corp tax & Inc Tax on divvies, there won't be much money left in the pot after not working for 6 months now.

    Do I need to liquidate the Ltd Co before I can go cap in hand to the job centre?
    Anything in ur personal account? I had a fair whack in mine and despite paying 28k tax last tax year I got zero dole.

    Spend ur savings first.

    Nice. Work hard, Save, then we will fuk u over...

    I was naive, next time I'm hiding it.

    Comment


      #3
      Originally posted by Hiram King Of Tyre View Post
      Once I've finalised my accounts and paid my Corp tax & Inc Tax on divvies, there won't be much money left in the pot after not working for 6 months now.

      Do I need to liquidate the Ltd Co before I can go cap in hand to the job centre?
      I'd ask admins to move this to Acc/legal for a sensible response before it goes completely off topic.

      Comment


        #4
        Originally posted by stek View Post
        Anything in ur personal account? I had a fair whack in mine and despite paying 28k tax last tax year I got zero dole.

        Spend ur savings first.

        Nice. Work hard, Save, then we will fuk u over...

        I was naive, next time I'm hiding it.
        Hector is watching, you know.
        And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

        Comment


          #5
          Being 50, I have been putting as much as I can into a SIPP. It may be worth waiting til it's too late to put that into drawdown before going down there.

          I will be left with a few grand in ISAs etc but not a lot

          Comment


            #6
            I went savings, bank loan, credit cards, edge of bankrupcy and luckily got a new gig with about a month to spare. I doubt the dole would have made much difference, other than to my sanity, which it would probably have destroyed.

            Attack your cost base aggresively straight away, don't wait till you are running low, and what you do have will stretch further. Obvious advice I know but you really do have to question the wisdom of £100 a month mobile bills, sky TV and £50 a week in the pub when you don't have an income.
            While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

            Comment


              #7
              Originally posted by stek View Post
              Anything in ur personal account? I had a fair whack in mine and despite paying 28k tax last tax year I got zero dole.

              Spend ur savings first.

              Nice. Work hard, Save, then we will fuk u over...

              I was naive, next time I'm hiding it.
              If you are unemployed you can claim non-means tested JSA for 6 months - £64 quid a week but better than a kick in the arse.

              Comment


                #8
                I'm, not unemployed but my company has stopped paying my salary

                Comment


                  #9
                  Originally posted by Hiram King Of Tyre View Post
                  I'm, not unemployed but my company has stopped paying my salary
                  I guess you're always going to be employed as a director of your company. And if you're a single director, you can't make yourself unemployed. Tho' I'm guessing!

                  Comment


                    #10
                    Originally posted by Jeebo72 View Post
                    I guess you're always going to be employed as a director of your company. And if you're a single director, you can't make yourself unemployed. Tho' I'm guessing!
                    Absolutely....hence the question, do I need to liquidate the company

                    Comment

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