hf1

Becoming self employed

My avatar
Woozle35
Cloth Nappy Disciple
Cloth Nappy Disciple

Becoming self employed

Postby Woozle35 » Tue Apr 27, 2010 2:21 pm

When you 1st became self employed how did it affect your working/child tax credits. I am more concerned with the first 6-12months where I might not earn that much, I dont want to lose my credits. Dh works and we just get working and child tax credits.
TIA

My avatar
eviesmummy
Cloth Nappy Ninky Nonk
Cloth Nappy Ninky Nonk

Re: Becoming self employed

Postby eviesmummy » Tue Apr 27, 2010 2:25 pm

If you call the tax credits helpline, tell them you are self employed, the number of hours a week you will be working and then your estimated earnings for this next year. We dont get working tax credit due to dhs wages but we do get child tax credit and it actually went up by a few pounds because I am now working over 16 hours a week.

My avatar
JanX
Cloth Nappy Aficionado
Cloth Nappy Aficionado

Re: Becoming self employed

Postby JanX » Tue Apr 27, 2010 3:31 pm

mine increased :wine:

I told them I am self employed, let them know how many hours I spend working at it and gave them an initail 1st years expected income of £0 (which is totally acceptable and normal for the first year of a small business). As a result I became eligable for Working tax credits whereas before I was only getting child tax credits!

Jan x


Return to Wahm grapevine