Universal Credit

Department for Work and Pensions written question – answered on 20th February 2019.

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Photo of Marion Fellows Marion Fellows SNP Whip, Shadow SNP Spokesperson (Small Business, Enterprise and Innovation)

To ask the Secretary of State for Work and Pensions, for what reason her Department requires owners of limited companies to provide company financial accounts when applying for universal credit; and if she will review that policy.

Photo of Marion Fellows Marion Fellows SNP Whip, Shadow SNP Spokesperson (Small Business, Enterprise and Innovation)

To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the practicality of requiring the owners of limited companies to provide company financial accounts when applying for universal credit.

Photo of Alok Sharma Alok Sharma The Minister of State, Department for Work and Pensions

The Department does not require owners of limited companies to provide company financial accounts when applying for Universal Credit. Self-employed earnings are reported on a simplified 'cash accounting' basis, which asks for the total income from receipts into the business and details of payments out of the business under defined categories during the assessment period. The requirements were designed to be as simple as possible in order for self-employed claimants to easily report their earnings.

The Department has therefore not made an assessment.

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