SW requirement for JSB to prove limited company not trading

M

mickeymouse

Registered User
Messages
16
I have recently been made redundant from my PAYE job and after applying to the local SW it was confirmed that I qualify for JSB. However, in order for them to process my claim I need to provide some additional documentation due to the fact that I am currently a director of a limited company. The company is still in existence but has not traded for the last 2 years. I would like to keep the company open as if, during my job search, I obtain a contract type (self employed) job I could then use it immediately and avoid having to set up a new ltd company.

I have spoken to the revenue department and they have advised that one option is to submit a Cancellation Notification form for Income tax under my pps no. and another Cancellation Notification form for the company for Corporation tax, VAT and employers PRSI and PAYE. I am concerned as my husband ( who is 2nd director) may be changing from his PAYE job to a contract job soon and therefore may needs to use the company.

Is there any other option how I can prove to SW that the company is not trading and I am not earning from the company. Alternatively, can I just submit the Cancellation Notification form for Income tax for myself only and not submit the Cancellation Notification for the company, thereby allowing my husband to use the company in the future?

Thanks
 
You should submit TRCN1 Cancellation Notification forms for both yourself and for the company, as Revenue suggest. Then you can re-register the company for taxes using Form TR2 when/if your husband wants the company to re-commence trading.
 
Thanks for that .... if my husband needs to use the company and re-registers the company for taxes using the TR2 form how will this effect my SW entitlement?
 
I am waiting to hear if I have secured an 8 week contract job - I am currently on JSB since July. Taking this position will require me to start using my LTD company which has not traded in over 3 years. Just wondering, if, after the 8 week contract finishes can I revert to claiming my JSB entitlements, or will the fact that I have been self employed affect this?
Thanks
 
If you come off JB to go into self employment, and subsequently suffer a substantial loss of employment (ie, when the contract expires), you can apply to go back on JB. Because there hasn't been a break of more than 12 months, your claim is linked to previous claim and you take off from there. So for example if you had already exhausted 9 months of your JB claim, you will have another 3 months of JB left (provided you have the 260 stamps). When a claim is linked like this, you do not lose the 3 "waiting days" as essentially its the same claim.

If you have exahausted 156 days of your JB claim, and subsequently get another 13 Class A stamps (which you won't if you are self-employed), then you can requalify for JB after your claim has exahausted. This is a fresh claim, and you lose the first 3 days. Obviously you still need to meet the other criteria for JB (loss of substantial employment, sufficient contributions etc.)
 
You must log in or register to reply here.
Back
Top