Hello all, I'm a LP to a nearly 9 year old DD and still on old tax credits / housing benefit system. As she's still at primary I'm working part time on my self employed work only (this is all I can manage until she is a bit older and no longer have to do the school run).
I am aware everyone has to switch to UC within 2 years. I am wondering what the knock on effect will be for my business.
I earn a relatively decent hourly rate when I work which means I earn usually at least meeting or rather above the minimum wage threshold for the part time hours I do work. Income can vary quite wildly from month to month, as can expenses. And I get quiet periods where I work on my personal projects hoping they will eventually bring in passive income.
I am wondering about the setup when I have to move to UC. Will this necessitate more working hours (I struggle as is, with all the school runs etc etc)? What if a quiet period comes up? Would I be forced to take employment maybe?
I love being self employed and have a reasonable average annual income for my hours, but I do worry that things might change once I go on UC and have a quiet month or two, or that they could force me into a job which for many reasons I would prefer not to.
If anyone has any input on their experiences with UC and self employment, particularly as a lone parent, I would welcome them. Thanks