Hello all,
I’m hoping someone can kindly help to clarify this. Quite a bit of personal info, but needed to explain.
I had expected to return to work last autumn after maternity leave, but was made redundant around the time I would have returned. My husband had already handed in his notice in his salaried job (long notice period) and left his job around the same time to start a business. His business needs funding, but he doesn’t yet have this yet.
We have little savings now, enough to survive and pays bills for around 2 months, a few thousand pounds. Definitely nowhere near the £16k threshold of savings for universal credit.
However, my husband, thankfully is expecting about £20k of private investment soon. This will be to action necessary things in the business and pay himself. His business is registered on companies house and it will be his first income since leaving his job. The money will be paid into his business account (just set up, £0) and then he will pay himself a small monthly salary.
I originally registered for New Style Job Seekers Allowance and was told it should be universal credit instead. Universal credit know my husband is self employed.
My question is 1. could it be a problem my husband’s business will have £20k funding? This is nothing to do with my income and most will go on business expenses.
Also, separate note, we have a young child in childcare 3 days a week. We can’t take them out of nursery and I am using these 3 days to apply for jobs etc. when I get a new role, hopefully asap, we may need to increase childcare days so I can work more. Question 2. Does anyone know if additional money is offered to support childcare, as I presume we loose our 30hrs funded childcare as I am not working… if not the universal credit I am hoping to receive, will probably just cover childcare costs, and not enough for bills or expenses.
My husband has a meeting with universal credit tomorrow morning and I do on Tuesday, so will be grateful for anyone’s clarification!
Thanks so much!