Kieran Walsh reports
If you fail in a business you can obtain social welfare, according to Liam Murphy, a Case Officer at the Department of Social Protection, who was speaking at a special seminar held recently at the Tower Hotel.
However, you must be means tested in response to an audience question. A declaration by an accountant that business has closed and leases terminated maybe required.
Documentation is important added Mr Murphy. Jobseekers’ Allowance can be claimed and then means tested as to previous earnings.
An inspector will do a review, and see if the applicant qualifies. If the person had some type of earnings then there could be partial payment.
There will be an analysis of assets owned too, second homes or other investments can come into consideration, a spouse working or other family income would be considered.
Documentation is key so for those who cannot get a claim accepted they may not be presenting their paper work and case properly.
Asset disclosure is important and household income and might need to be verified by a professional.