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ESA (IR) Support Group /self employed
- Headcase
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5 years 3 months ago #242684 by Headcase
ESA (IR) Support Group /self employed was created by Headcase
Evening all,
Asking on behalf of our accountant ( asking for trouble??)
I was finally granted ESA IR after being put in support group a couple of years ago,after being refused ESA completely for 2 yrs
(HMRC- DWP Computer'glitch' regarding contribution record.... Who'dve thought?)
Submitted accounts etc. My two business partners continue the business, I do nothing much at all, but by the nature of the situation, I live at the business premises.
Weve made a loss for last couple of years (mainly cos of my situation) however, this year looks like there's a small profit on the horizon.
Accountant wants to allocate me £1000 of it, to keep everything looking 'safe'.
Question is..
Will it cause potential problems because
A.
I'm 'not fit to work' (support group+ full pip) I occasionally answer the phone etc. but don't want to stir up a hornet's nest by looking at permitted work options etc.
B
If he allocates more profit for me to use up my tax allowance, then how much could I stand to lose over the coming years? Bearing in mind this is probably a 'one off year of paper' profitability?
(all regarding nominal stock valuations)
Im sure this reads like it's a great problem to have , couldn't be further from the truth, I can't even afford to heat the house, I don't own it, and don't want to claim housing benefit even though I'm eligible.
After the nightmare of finally getting ESA, I am much of mindset of
'letting sleeping dogs lie'.
TIA.
Asking on behalf of our accountant ( asking for trouble??)
I was finally granted ESA IR after being put in support group a couple of years ago,after being refused ESA completely for 2 yrs
(HMRC- DWP Computer'glitch' regarding contribution record.... Who'dve thought?)
Submitted accounts etc. My two business partners continue the business, I do nothing much at all, but by the nature of the situation, I live at the business premises.
Weve made a loss for last couple of years (mainly cos of my situation) however, this year looks like there's a small profit on the horizon.
Accountant wants to allocate me £1000 of it, to keep everything looking 'safe'.
Question is..
Will it cause potential problems because
A.
I'm 'not fit to work' (support group+ full pip) I occasionally answer the phone etc. but don't want to stir up a hornet's nest by looking at permitted work options etc.
B
If he allocates more profit for me to use up my tax allowance, then how much could I stand to lose over the coming years? Bearing in mind this is probably a 'one off year of paper' profitability?
(all regarding nominal stock valuations)
Im sure this reads like it's a great problem to have , couldn't be further from the truth, I can't even afford to heat the house, I don't own it, and don't want to claim housing benefit even though I'm eligible.
After the nightmare of finally getting ESA, I am much of mindset of
'letting sleeping dogs lie'.
TIA.
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- BIS
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5 years 3 months ago #242697 by BIS
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by BIS on topic ESA (IR) Support Group /self employed
Hi Joe90
Sorry but this is outside the scope of what we deal with within the forum. We are here to help people in relation to the information provided in the guides, but we aren’t able to give information on other issues - such as tax allowances. Suggest you ask your accountant to make a call to the DWP - can do it on a general enquiry line.
BIS
Sorry but this is outside the scope of what we deal with within the forum. We are here to help people in relation to the information provided in the guides, but we aren’t able to give information on other issues - such as tax allowances. Suggest you ask your accountant to make a call to the DWP - can do it on a general enquiry line.
BIS
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- Gary
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5 years 3 months ago #242699 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic ESA (IR) Support Group /self employed
Hi Joe90
As BIS has pointed out your query is outside the scope of this forum, you may be able to get help from TaxAid; TaxAid’s Helpline 0345 120 3779 (Mon-Fri between 10am and 4pm) taxaid.org.uk or check out Low Incomes Tax Reform Group (LITRG)'s web site for information www.litrg.org.uk/getting-help
Gary
As BIS has pointed out your query is outside the scope of this forum, you may be able to get help from TaxAid; TaxAid’s Helpline 0345 120 3779 (Mon-Fri between 10am and 4pm) taxaid.org.uk or check out Low Incomes Tax Reform Group (LITRG)'s web site for information www.litrg.org.uk/getting-help
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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