THE LAST TIME I GO BY THE BOOK
This is the absolute last time I’ll be doing anything by the book. I set up a limited company, worked and paid as necessary, went to file my first return yesterday and they’ve calculated that I’ll be receiving an absolute joke of a figure. I have literally nothing left over once my personal bills are paid, I literally cannot even pay for the necessary things I need to RUN the business for the next month. All because I done it ‘by the book’. Apparently earning £700 (in net profit, before paying myself and covering taxes) is enough to mean you get next to nothing from UC. Who clearly misguided me with their whole self employment nonsense. Regretting ever saying I was even self employed and just wish I applied as unemployed flat out. Maybe then I would’ve avoided all of this nonsense. If anyone has any experience with having a limited company and claiming UC please do help me out here because I’m lost for options and I don’t know what to do. I literally have nothing left, the bills are due and the walls are closing in and now I can’t even afford to even earn money.