How would starting a business effect my benefits?

Obviously, starting a business will affect your benefits because you are effectively transitioning from unemployment to employment by your own business. Depending on what benefits you were receiving before starting employment you may still be able to receive them while employed.

This goes without saying you should inform your Jobcentre Plus advisor that you’ve gone into starting your business.

But, before you meet your advisor to see how your benefits are affected they’re 3 calculators that are trusted by the government to work out what benefits you can qualify for. They are free and anonymous to use.

• Turn2us – for information on income-related benefits, tax credits, Council Tax Reduction, Carer’s Allowance, Universal Credit and how your benefits will be affected if you start work or change your working hours.
• Policy in Practice – for information on income-related benefits, tax credits, contribution-based benefits, Council Tax Reduction, Carer’s Allowance, Universal Credit, how these are calculated and how your benefits will be affected if you start work or change your working hours.
• entitledto – for information on income-related benefits, tax credits, contribution-based benefits, Council Tax Reduction, Carer’s Allowance, Universal Credit and how your benefits will be affected if you start work.

These are only estimates but can give you fair guess to how you will be affected.