Self Employed

Bahco · Posted: Wed Nov 04, 2009 6:06 pm Post Subject: Self Employed

Following on from the other thread about National Insurance contributions .......If you are self employed and are paying Class 2 stamp you will NOT be eligible for contribution based Job Seekers Allowance.

Also if you have savings above £16000 you will not get Income based JSA either.
A lot of people do not realise this when paying Class 2 NI contributions unfortunately.

__________________
85 weeks without smoking!

conny · Posted: Wed Nov 04, 2009 8:40 pm Post Subject:

Quote:

if you have savings above £16000

I wish! Knock the 3 'o's off and thats me!

Good post though. Very useful to some, thank you.

seco services · Posted: Wed Nov 04, 2009 8:47 pm Post Subject:

what do you want Job Seekers Allowance for if your self employed ?

if you want your cake and eat it work cash in hand and claim Job Seekers Allowance.

Bahco · Posted: Wed Nov 04, 2009 8:56 pm Post Subject:

seco services wrote:

what do you want Job Seekers Allowance for if your self employed ?

If you go from self employed (perhaps after a couple of yrs as work has gone slack or for other reasons) and try to sign on for JSA you will find that class 2 NI contributions will not entitle you to JSA.

Not many self employed realise this is the case and come unstuck when they put in a claim. On the good side class 2 does entitle you to ESA and a credit towards your state pension.

__________________
85 weeks without smoking!

seco services · Posted: Wed Nov 04, 2009 9:21 pm Post Subject:

thats about right for this country.
must be because we're the wrong colour.

namsag · Posted: Wed Nov 04, 2009 10:51 pm Post Subject:

God and there was me thinking my 2 quid a week would give me everything.

jondecs · Posted: Wed Nov 04, 2009 11:39 pm Post Subject:

Bahco wrote:

If you go from self employed (perhaps after a couple of yrs as work has gone slack or for other reasons) and try to sign on for JSA you will find that class 2 NI contributions will not entitle you to JSA.

Not many self employed realise this is the case and come unstuck when they put in a claim. On the good side class 2 does entitle you to ESA and a credit towards your state pension.

Yep found that out in January when I thought my bubble had bust.

Mind, The foriegn looking lady did'nt get it over so sweetly as you

She could hardly speak english, seems she had been drafted in from the west midlands to help with the queu's in Bournemouth, as the local job centres are being relocated to a central ....wotsit to speed the process up erm

dilly · Posted: Thu Nov 05, 2009 6:50 pm Post Subject:

Had not realised that people from birmingham were considered foreign l.o.l

seco services · Posted: Thu Nov 05, 2009 6:59 pm Post Subject:

probably from the black country.

holmslaw · Posted: Fri Nov 06, 2009 9:52 am Post Subject:

Any fink north of watford is forren, innit.

Bahco · Posted: Fri Nov 06, 2009 1:43 pm Post Subject:

I think it is worth all of you self employed fellas looking into paying Class 1 contributions to get you more entitlement.

__________________
85 weeks without smoking!

jondecs · Posted: Wed Nov 11, 2009 12:19 am Post Subject:

Bahco wrote:

I think it is worth all of you self employed fellas looking into paying Class 1 contributions to get you more entitlement.

Not sure, but I dont think we (s/e) can. Or can we?

As I understood when I enquired it seems S/E wont get any JSA but will get help benefit when you can prove you aint got nothing..
i.e need to have wound up business / bankrupt or whatever.

Fortunately work has gone back to normal. booked till May like old times.. seems people are spending instead of saving in these zero interest days.

__________________
N.W.V

Bahco · Posted: Wed Nov 11, 2009 8:34 am Post Subject:

jondecs wrote:

Bahco wrote:

I think it is worth all of you self employed fellas looking into paying Class 1 contributions to get you more entitlement.

Not sure, but I dont think we (s/e) can. Or can we?

I need to get a definitive answer to that one so will look into it and post back.

__________________
85 weeks without smoking!

Bahco · Posted: Wed Nov 11, 2009 9:17 am Post Subject:

Just spoke to HMRC about this and...........you cannot pay class 1s to up your entitlement.

So, in a nutshell, if you have been self employed and only paid class 2 contributions, you will not be eligible for Job Seekers Allowance.

What a con!

__________________
85 weeks without smoking!

dangermouse46 · Posted: Wed Nov 11, 2009 6:57 pm Post Subject:

Bahco wrote:

Just spoke to HMRC about this and...........you cannot pay class 1s to up your entitlement.

So, in a nutshell, if you have been self employed and only paid class 2 contributions, you will not be eligible for Job Seekers Allowance.

What a con!

where's the con? you pay less contributions and have less cover. simples!

__________________
You get what you pay for. . .