The Universal Credit system creates
untenable levels of complexity for small business and the self-employed
who will have to report transactions monthly, says Andrew Gotch
The Department for Work and Pensions’ (DWP) draft regulations
on Universal Credit (UC) propose that self-employed individuals should
report transactions online monthly, within seven days of month end.
Most self-employed will also be treated as having a minimum monthly
income and must work at least 18 hours a week in their business to
be in ‘gainful’ self-employment. These proposals have
been criticised by CIOT and other bodies.
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