Am I qualified for benefits or assistance with mortgage interest payments?

N

Nealie

Guest
Hi

I have been freelancing for a company for three years who have recently had to make me redundant. I am set up as a limited company, and the company I have been freelancing to are paying me up until end October, although I'll probably have to wait until December to get this money.

The question is, am I qualified to sign on, and if so when? If I am unable to find more work, will I qualify for assistance with my mortgage interest?
 
You will not be eligible for Mortgage Interest Supplement while you are getting work through your company. If you are unemployed you can apply for it. It's means-tested, and all household income, savings and other property will be taken into account.
 
Thanks very much for the reply, but what is the definition of unemployed in this context. Currently, I cannot find work either through my company, employment agencies or direct with other companies. Although I am outstanding payments through my company, it is otherwise inactive. Do I have to dissolve the company to qualify as unemployed? If so, do the company assets count towards my personal means testing for mortgage relief?
 
If you can show that the company is inactive (without dissolving it), and have made a claim for Jobseeker's payment, you could make an application for help towards your Mortgage interest.

Company assets aren't specifically excluded from the means test, so yes, they may be taken into account - it would depend on what they were.

Assessments for self-employed persons are quite complex, it would be better for you to speak to the CWO in person.
 
at least make sure you extract the money from the company in the most tax efficient manner,make yourself a redundancy payment through the company
 
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