If they are able to work or are signing on then the equivalent benefit is Income Based Jobseekers Allowancewhich is worked out in much the same way as Income Support. How to qualify for Income Support The applicant must be1 living and resident in the U.
K.2 be 16 or over and under Pension Age3 not be doing 16 or more hours of paid work, per week, (if you have a partner then they must not be doing 24 hours or more paid work per week) there are many people who are allowed to work over these hours and remain entitled to Income Support, Carers, Disabled, Childminders, etc seek advice.4 not be in full-time education, again many exceptions to this rule, e.g.
Under normal circumstances, he pays the per share exercise price and can turn around and sell those shares on the exchange for each, netting a profit of per share, or ,000 total.
But if John's options are backdated, then his exercise price is only per share.
In our example, backdating the options is the same as giving John Doe a check for ,000 -- without recording that ,000 on the income statement as compensation.
That, in turn, understates the company's expenses and overstates its profits, which is a violation of generally accepted accounting principles and has been the grounds for a variety of fraud and miscellaneous charges from federal, state and local regulators.
Lone parents, Disabled, etc, seek advice.5 not be on strike6 not have over 16,000 in capital (this includes, savings, investments, and property that is not the main home, some property can be ignored, seek advice,)7 have income of less than their needs.
As well as all of the above the claimant must fit into at least one of the following.1 be unfit for work due to illness or disability (existing claims pre Oct 2008)Or2 be a lone parent, responsible for a child under5 from October 2011, and have no partner.The general reason companies backdate options is to create a lower exercise price, which in turn increases the probability that exercising the options will make more money for the optionee.Stock prices change, however, and there is no guarantee that any stock price will ever be above the exercise price.If you are part of a couple and you do not fit into any of the above situations but your partner does then you could consider letting your partner become the claimant, Seek Advice.How to work out your entitlement The amount of your Income Support entitlement depends on your income and capital, whether you have a partner or children, your ages, whether anyone in your family has a disability, or is a carer, and if you have certain eligible Housing costs.How It Works For example, let's assume that John Doe is the CEO of Company XYZ.