Self Employed

Bahco

Bahco

Joined
8 Feb 2004
Messages
8,022
Reaction score
148
Location
Wolverhampton
Country
United Kingdom
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.
 
Sponsored Links
if you have savings above £16000
Click to expand...

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

Good post though. Very useful to some, thank you.
 
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.
 
seco services said:
what do you want Job Seekers Allowance for if your self employed ?
Click to expand...

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. :D
 
Sponsored Links
thats about right for this country.
must be because we're the wrong colour.
 
God and there was me thinking my 2 quid a week would give me everything.
 
Bahco said:
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. :D
Click to expand...

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 :LOL:
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 :confused:
 
Had not realised that people from birmingham were considered foreign l.o.l :LOL: :cry:
 
I think it is worth all of you self employed fellas looking into paying Class 1 contributions to get you more entitlement.
 
Bahco said:
I think it is worth all of you self employed fellas looking into paying Class 1 contributions to get you more entitlement.
Click to expand...

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.
 
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!
 
Bahco said:
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!
Click to expand...

where's the con? you pay less contributions and have less cover. simples!
 
You must log in or register to reply here.
Sponsored Links

Similar threads

C
self employed????????????
Replies
14
Views
2K
Nige F
N
JohnD
Tax cut for self-employed workers
2
Replies
15
Views
1K
Notch7
N
JohnD
Class 2 NICs
Replies
1
Views
731
Bonni
B
n-hatton
Do You Operate as Limited Company or Self-Employed?
Replies
5
Views
1K
Richard C
R
R
Anyone know about NI contributions
Replies
8
Views
1K
MarkBarl
M
Back
Top