FLRM Self-employment income help.

[Tedco63]

Hi Guys,

I'm applying to extend my FLRM for the additional 2.5 years and am having some trouble in the financial section. In the summer my previous (full time) job was lost when the company I worked for went into administration. Since August this year I have been working self employed as a sole trader and as such have declared this on my application. However when it asks for monies earned it says to input the date of the end of the last financial year, 06/04/19 as I see it, and then to input the income from self employment during that financial year. Obviously due to how recent this new role has come about I didn't earn anything during that year from self employment as it was all from the previous full time role.

Hopefully someone can shed some light on what I should be inputting at this stage!

Many Thanks,

[geoeng]

Unfortunately income from self-employment to meet the financial requirement is based on the last full financial year (or average of 2 previous full financial years) and significantly more documentation is required to be provided than income from regular employment. Even any other employment income you want to add must be from the same financial year being relied upon. Additional details in the guidance linked below. Any chance your partner has income you could use instead?

https://assets.publishing.service.gov.u ... -ext_1.pdf

[seagul]

Hi Guys,

I'm applying to extend my FLRM for the additional 2.5 years and am having some trouble in the financial section. In the summer my previous (full time) job was lost when the company I worked for went into administration. Since August this year I have been working self employed as a sole trader and as such have declared this on my application. However when it asks for monies earned it says to input the date of the end of the last financial year, 06/04/19 as I see it, and then to input the income from self employment during that financial year. Obviously due to how recent this new role has come about I didn't earn anything during that year from self employment as it was all from the previous full time role.

Hopefully someone can shed some light on what I should be inputting at this stage!

Many Thanks,

If your partner is doing a paye job then you can use his/her income instead or even can combine your previously earned income during the last 12 months with his/her income under category B.

[Tedco63]

Thanks Seagul,

I did consider this and think it's the way i'll go forward and should they ask for my work situation after the fact I can explain then.

Cheers,
Tim