Self Employed

[Bahco]

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.

 

[conny]

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]

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]

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.

 

[seco services]

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

 

[namsag]

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

 

[jondecs]

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]

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

 

[seco services]

probably from the black country.

 

[holmslaw]

Any fink north of watford is forren, innit.

 

[Bahco]

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

 

[jondecs]

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.

 

[Bahco]

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.

 

[Bahco]

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!

 

[Deleted member 105431]

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!