Universal Credit for Self-Employed: Who Qualifies and What You Get
Learn how self-employed individuals in the UK can access income top-ups through Universal Credit and what rules apply to your business.
Universal Credit for self-employed individuals is a system designed to provide financial support to people running their own businesses who have low incomes.
Who it's for
This scheme is for people who are self-employed and are earning a low income.
What you get
You can receive an income top-up to help cover your essential living costs if your business earnings are below a certain level.
What it costs you
To qualify, you must pass a test to prove you are engaged in "gainful self-employment." This is an assessment to ensure your business is being run with the intent of making a profit and is a legitimate source of livelihood.
The catch to know
You should be aware of the Minimum Income Floor. This rule can significantly reduce the amount of support you receive by assuming you earned a set amount of money, even if your actual earnings were lower during a specific period.
How to apply
- Check your eligibility based on your current income and savings.
- Prepare your business and personal financial records.
- Create an account and submit your claim through the official portal.