Im just starting my own business!

[lea m]

As the title says, Im just in the process of strating my own business with my aunt! We have parties (kinda like Ann Summers but cheaper) and now we are getting a shop!
I guess my concerns are
1) What do I apply for? My Oh is just getting his license to become a taxi driver also so 2 changes in career lol, How will they work out my tax credits etc as I wont really be earning for at least the first 12 months?

2) I wont really be able to take time off for maternity leave!? Thats concerning and something my and my aunt will have to discuss, so I wont need to apply for any maternity benefits will I??

Thanks in advance if anyone can help!!

 

[kalia]

It says on the government website that you don't have to be working to get child tax credits so I'm sure they'll work out what to give you one way or another - why not give them a call. You should get working tax credits too.

Why won't you be earning for the first 12 months? If it's because you are not working then you should get maternity allowance I think. You have to take off 2 weeks. And you can have up to 10 "keeping in touch days" at work. So you should get 4 weeks MA, even if you decide to go straight back after the 2 weeks (as long as you call them keeping in touch days).

 

[lea m]

Thanks!
I wont be earning as its a new business, we will either be just breaking even or at a loss for the first year at least we have been advised!
Im not sure what the keeping in touch days are but I will google now so thanks for the info!!

 

[Sherlock]

I think if you are self employed its different again, so look into that side of things.

To get paid maternity leave etc you need to class yourself as a limited company or some such, I don't recall exactly but I know someone else posted on running their own business and had to research everything about how and what they could claim.

I went and found the thread for you, hopefully its of some use to you

http://www.pregnancyforum.co.uk/forum/v ... hp?t=52144

Also when my mother had her own business it was always advised to draw a salary. Not getting paid was a big no no.

 

[paradysso]

are you already running parties? so u are already self employed? im self employed and for mat leave i get paid mat allowance.

also for tax credits they ask u approx hours u working and rough income, then when u come to do tax return they will get exact figure and pay u more or less following year

 

[Princess_Puddles]

Your tax credits for this year will be based on your last years earnings so even though you're not currently working it wont be untill next year that you may see an increase but also like someone else has pointed out you'll be self employed so that will be different too.

 

[lea m]

Thanks for the info ladies!!
Sherlock, that link was a great help thanks!!