Hello All,
When you are self employed, all "extra money" goes down as your own profit. I can earn an extra £700 in one month and the council will take away my entitlement. I know that, that £700 is going to be vital the following month when it will be quite but as the council do not new business this way, I was wondering if its best to go Ltd and employ myself so that I am on a set wage. Then all the capital is seen as the companies assets, although I will never have enough to sit on a pot of money, it will stop my entitlement constantly changing, when I know that I am not really better off!
Would someone else need to be a director? Surely I cannot be the director and employ myself and get HB??
Many thanks
When you are self employed, all "extra money" goes down as your own profit. I can earn an extra £700 in one month and the council will take away my entitlement. I know that, that £700 is going to be vital the following month when it will be quite but as the council do not new business this way, I was wondering if its best to go Ltd and employ myself so that I am on a set wage. Then all the capital is seen as the companies assets, although I will never have enough to sit on a pot of money, it will stop my entitlement constantly changing, when I know that I am not really better off!
Would someone else need to be a director? Surely I cannot be the director and employ myself and get HB??
Many thanks