Is Job Seekers Allowance a taxable social security benefit? And thus, would it need to be declared on a Self Assessment Tax Return?

fodigie
by fodigie 22 July 2010  |  Comments 3 comments  |  Love Love  0 loves

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  • SoftwareBear
    Love rating 216
    SoftwareBear posted

    you would need to declare the income yes ... as it will affect how much you would be taxed on the self employed income.

    Posted on 22 July 2010 | Love Love  0 loves Report
  • MikeGG1
    Love rating 909
    MikeGG1 posted

    It is not paid at a level that would attract much, if any, tax. However, it is a taxable benefit.

    If a Self Assessment form is received, it will help to get the right level of tax across the whole year and would avoid the need for a reclaim of any excess tax paid whilst still working. Early completion is advisable if a refund is due.

    Mike

    Posted on 22 July 2010 | Love Love  0 loves Report
  • LiverpoolMiss
    Love rating 5
    LiverpoolMiss posted

    There is a box for Job Seeker's Allowance on the self-assessment tax form.

    Posted on 08 August 2010 | Love Love  0 loves Report

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