JSA for contractors - money in Ltd account.

[speling bee]

Certain posters who will remain nameless for now seem to lay themselves off between contracts and claim JSA. We may have our own views on this, but we are assured it is all legal and above and that the contractors are entirely open with Dole Office staff.

I am wondering: do these contractors show the Dole Office staff how much money is in the Ltd account?

I'm not intending to do this myself, but am simply curious.

[NorthWestPerm2Contr]

Certain posters who will remain nameless for now seem to lay themselves off between contracts and claim JSA. We may have our own views on this, but we are assured it is all legal and above and that the contractors are entirely open with Dole Office staff.

I am wondering: do these contractors show the Dole Office staff how much money is in the Ltd account?

I'm not intending to do this myself, but am simply curious.

Perhaps you shouldn't classify those who claim JSA as contractors - rather just disguised employees....

[eek]

Perhaps you shouldn't classify those who claim JSA as contractors - rather just disguised muppets....

ftfy

[VectraMan]

For contribution based, you don't need to. For income based (which I tried to claim last year), they wanted company accounts, profit and loss, etc. So much of a PITA that I didn't bother in the end (and they gave me contribution based JSA for reasons I don't understand).

[speling bee]

Perhaps you shouldn't classify those who claim JSA as contractors - rather just disguised employees....

They're employees of their Ltd, but we tend to call them contractors. I do, however, appreciate the jibe.

[speling bee]

For contribution based, you don't need to. For income based (which I tried to claim last year), they wanted company accounts, profit and loss, etc. So much of a PITA that I didn't bother in the end (and they gave me contribution based JSA for reasons I don't understand).

Thanks VM. I was asking because a poster in another thread stated:

Please dont [sic] make out its [sic] anything shady or illegal. As I point out every time, Im [sic] totally upfront and honest about things. I've had this conversation with loads of people at JSA and its [sic] allowed and, in their eyes, perfectly fair.

I am just wondering if 'totally upfront and honest' includes showing Ltd company bank statements, although I now understand from what you say that there is formally no need to do so.

[moggy]

Thanks VM. I was asking because a poster in another thread stated:



I am just wondering if 'totally upfront and honest' includes showing Ltd company bank statements, although I now understand from what you say that there is formally no need to do so.

Just because the little ole lady on the dole office says its fair doesn't mean HMRC won't use it as a stick to beat them with later.. well there's hoping anyway..

[mudskipper]

My understanding was that contribution based JSA (for 6 months) wasn't dependent on how much money you had. Could be wrong though!

[NorthWestPerm2Contr]

My understanding was that contribution based JSA (for 6 months) wasn't dependent on how much money you had. Could be wrong though!

I don't actually know anything about JSA and I hope to God I never have to find out about it....

[speling bee]

My understanding was that contribution based JSA (for 6 months) wasn't dependent on how much money you had. Could be wrong though!

I don't have a problem with unemployed people with money claiming contribution based JSA. I find it perverse that a company director, who takes a tax advantage as a business rather than as a disguised employee, can have spare money in the Ltd and claim to be unemployed / laid off. It seems to me that if you want the advantages of being in business, you should pay your salary between contracts (if you have that money). But I accept it may be legal.

I am interested whether being upfront and honest includes advising the Dole Office how much money and spare money (after tax obligations are met) is in the Ltd account.