Tax credits help???

[keljordan]

Hi, can someone plz help me? I'm self employed and ever since having Maddie my clients have just dwindled away and I'm really struggling at the mo I'm down as working 24 hrs a week but I prob only do 16 now. Do I need to tell them or do they just go on what my total income is? What I mean is if I work any less will the take my tax credits off me ? I just don't know what to do for the best does anyone know? Plz x x I think I need a new career so sad at the mo

 

[Emmamb]

If ur a single parent u need to work 24 hours a week to receive tax credits,if ur part of a couple it's 30 hours combined between u both.
Although ur only working 16 hours have u taken travelling time,admin time and going to wholesalers etc as hours worked? I'd add that in and try and squeeze the hours upto the necessary needed xx

 

[marley]

Hey kel,

This might be useful:

hmrc.gov.uk/leaflets/wtc2.pdf

From what I understand it seems to be 16 hours minimum and if your self employed you can claim extra for child care costs, even if LO is under 3

Xxxxxxxxx


Apologies for any typos!

 

[keljordan]

Thanks guys really appreciate the info! It's just so bloody hard to understand :/ xx

 

[keljordan]

Also because I'm self employed even though I work 16 hrs I might not make the same each week so do I have to earn a certain amount? That's the main thing I wanted to ask say for eg one hour I could be doing a full set of nails and then the next just a polish, if you get me lol xx

 

[Terri1884]

It's changed now! If u r single u can work 16 hours to qualify for wtc if ur a couple u have to work 24 combined hours to receive wtc

 

[Emmamb]

It doesn't matter how much u earn-u could be making a loss but aslong as ur working the hours ul still get wtc x

 

[marley]

Hi kel my oh is self employed and we just had to give an estimate of what he would earn throughout the tax year. It's better to over estimate.

Do you have a business account and accountancy programme or book keeper?

We just hve a business account put the money in and spend what we need for business etc and the bookkeeper just prints us off a profit and loss and we base it on that every 6 months

Inbox me if u want any advice hun xxx


Apologies for any typos!

 

[marley]

The first year all the money he has early has gone bk into the business so he's made a loss, so we get full amount tax credits.

Xxxx


Apologies for any typos!