Can anyone offer any help/advice please ?
I am in receipt of state pension and pension credit (guaranteed) with no other income.
I lodge at the moment.
My query is: I have been forced to downsize and have been selling off my unwanted stuff on ebay, now I understand this is perfectly acceptable, but now I would like to take it a step further and start up anEbay business.
I've been told by the powers that be that I would have to declare anthing I earn, that's OK, and that it will affect my pension credit, I may lose it altogether, BUT I may be able to claim working tax credit instead - so far so good.
Now this is where it gets a bit confusing if not downright frustrating !
Pension credit dept say I have to contact working tax credit dept as and when I earn anything, and in order to claim.
WTCD say I have to contact PCD first !
Also I don't know WHEN to tell anyone I've started up, i.e. do I tell the departments BEFORE I've earned anything ? or afterwards ?
If my earnings are going to be deducted from any benefit I receive, how can I tell what they will be as selling will differ from week to week or month to month !
If my benefit is stopped immediately, I will undoubtedly have a period of no income coming in at all while the business builds - yet, to start earning whilst in receipt of pension credit will surely be looked on as benefit fraud ! also I would be afraid to stop any benefits in case my business doesn't 'take off'
how do I get around that ?
I hope I haven't confused you !
In a nutshell, what comes first ? start the business, inform WTCD or PCD ?
I hope someone can help, as I don't want to fall foul of any benefit laws.
thank you in advance
I am in receipt of state pension and pension credit (guaranteed) with no other income.
I lodge at the moment.
My query is: I have been forced to downsize and have been selling off my unwanted stuff on ebay, now I understand this is perfectly acceptable, but now I would like to take it a step further and start up anEbay business.
I've been told by the powers that be that I would have to declare anthing I earn, that's OK, and that it will affect my pension credit, I may lose it altogether, BUT I may be able to claim working tax credit instead - so far so good.
Now this is where it gets a bit confusing if not downright frustrating !
Pension credit dept say I have to contact working tax credit dept as and when I earn anything, and in order to claim.
WTCD say I have to contact PCD first !
Also I don't know WHEN to tell anyone I've started up, i.e. do I tell the departments BEFORE I've earned anything ? or afterwards ?
If my earnings are going to be deducted from any benefit I receive, how can I tell what they will be as selling will differ from week to week or month to month !
If my benefit is stopped immediately, I will undoubtedly have a period of no income coming in at all while the business builds - yet, to start earning whilst in receipt of pension credit will surely be looked on as benefit fraud ! also I would be afraid to stop any benefits in case my business doesn't 'take off'
how do I get around that ?
I hope I haven't confused you !
In a nutshell, what comes first ? start the business, inform WTCD or PCD ?
I hope someone can help, as I don't want to fall foul of any benefit laws.
thank you in advance