Can I claim jobseekers allowance

[Mumoftwinsandasingleton]

I've never been on benefits before, but my maternity allowance runs out in May and I don't really have much of an income otherwise. To put my twins in nursery would cost over £3500. Thankfully my 3 year old can attend pre- school completely free, but the expense of the twins would leave us with less money. I was a teacher pre-3 year old, but set up a small tutoring company when she was 4 months old. This company is still running but I'm struggling to get customers for my employees. There are currently only 20 customers on the books and most wages are going to my employees and not to me. I know there's probably a lot of money I haven't claimed for my business, but I honestly have no idea what to claim if anything. What I want to know is if I'm even eligible to apply for benefits?
Extra information:
My husband earns £35k before taxes
My husband is currently paying for our mortgage and legal costs, and my maternity allowance pays for the food
I have personal savings of over £70k
Husband has savings of only £2k (he's not good at saving)
We never have any money leftover at the end of each month

Please let me know if I'm entitled to any benefits. I'm technically not seeking a job and only want to return once my twins are 3

If you have savings over £16k, you are not entitled to UC.

Quite irrespective of the savings op the answer at the moment is no. You're running a small business with employees, so you're not unemployed. If the business is not earning enough to pay employees and yourself then it's a failing business and you need to look at that. Presumably you're still filing your accounts and paying your tax and pension liabilities for your employees?. The savings are a secondary issue and yes would exclude you from benefits even if you didn't have the job.

You can claim contribution based JSA for six months if you go through the motions of looking for a job and attending interviews. Then you’d have to switch to income based JSA, which you won’t be eligible for because of savings. You won’t get UC either because of your savings.

I am sympathetic, my DC inherited a lump sum and that means I’m not eligible for any benefits. It’s not my money but the authorities class it as mine.

There is no "switch" to Income based Jobseekers Allowance now.

If you use your savings now to pay off your mortgage then you can claim universal credit.

You will get a fair bit with £35k household income and 3dcs.

If you do go back to work and pay for childcare your uc will go up to help with the childcare costs.

well, it makes sense because people "hide" money in their kids accounts all the time to claim benefits etc.

She is working. She has a business which is paying her.

I for one am completely happy to give you some of my money that I work hard for so you can be mortgage free while I pay 1.2K month a rent.
Absolutely

🤣

OP I'm actually torn between this is a joke thread or you're very naive.

If your business isn't turning a profit then it would make more sense to wrap it up or sell it. You've got 70K in savings. You need to use them.

I assume they are in a high interest account - higher then mortgage % is

Usually can only overpay 10% off a year

Unless you remortgage - pay the £60k off and have some savings which then yes you would get some uc but is tapered £6/16k savings and nothing over £16k

That's not right if it's their money ?

Or are they adults so class it as family income /savings

You suspect wrong. If OP/DH didn’t have savings (e.g. because they used it to pay their mortgage) they could earn £6.5k per month and still receive some UC if they received the maximum allowed for the childcare element. They could earn more than £3.3k per month without any childcare costs and still receive some UC.

Here is the calculation with the full amount for the childcare element:
Standard allowance. £617.60
First child. £287.92
2nd child. £287.92
3rd child. £287.92
Childcare £1,739.37
Total = £3,220.73

Earnings minus work allowance
£6500 - £673 = £5,827

Deduction
Earnings x 0.55 =
£5,827 x 0.55 = £3,204.85

Total allowed - earnings deductions = total UC for month
£3,220.73 - £3,204.85 = £15.88

Are you taking into account her business or just his wages? I know SE have to be earning a certain amount.

Yes,but not right away,would depend on other factors,and on uc would only be a loan towards mortgage interest which she would have to be paid back in future.

The earnings I mentioned in my post could be split in any way. OP wouldn’t be subject to the MIF due to the age of her DC.

I thought teachers were supposed to be smart! Use your savings!!!

It is all a bit moot anyway as UC would wonder what happened to the £70k!

OP could legitimately use the £70k to pay off her mortgage then claim UC. That would not be deprivation of capital according to the regulations.

They would only be paid the Child element for 2 Children..
Edited as linked wrong post.

No, they wouldn’t because of the rules about multiple births.

Missed OP had twins 😊

@Headfirstintothewild a couple could earn £6.5k in a month and still get uc. That seems crazy

Yes, they could if they had the standard allowance, 3 child elements and the maximum childcare element. It is the extortionate childcare costs that make it possible.

One would think of earning £6k they could afford to pay their own childcare