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What is my Total Income for Benefit Purposes?

benefit income purposes total
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What is my Total Income for Benefit Purposes?

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The starting point in the calculation is to work out the total business income for the period in question. This will include all money coming in, business start-up allowances, etc but will not include sums of capital paid into the business. If you have recently started trading on a self-employed basis, we will ask for an estimate of the likely income and expenses for the business over the first few months trading. This will help us to pay your Benefit sooner rather than having to wait until you have been trading for a few months. If you have been trading for over 12 months, we will ask for a full years trading figures – normally in the way of a ‘profit & loss account’. We may also ask for the most recent tax assessment form received from the Inland Revenue.

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