why cant tax credit use the 2/3 rule like with other benefits

[nelly]

really dont know how much to tell tax credit what my earnings are going to be ?
is there a rough percentage that you all take off. forgot to say havnt done any tax returns yet as this is my first year so dont know how much to take off for deductions.why cant it be easy like with other benefits. thank hope someone can understand this.xx

[appleblossom]

They will accept an estimate for the current tax year. They normally estimate it themselves based on your net profit for the previous year. I am sure they would accept your estimate. IIRC there is a box on the clain form for your estimate.
Then next year they would adjust your payments on your actual net income this year, and so on each year. Bear in mind that if your underestimate your income too much you will receive much less next year, and they may ask you to repay it rather than reducing next year's payments. I usually work on my expenses being 25 to 30%. However if you have only just started and have to buy a lot of toys/equipment then your expenses would be higher.
HTH

[nikim]

i normally just take an average monthly income and x by 12 ,then when i give them the actual amount its usually less by the time ive done my tax return ,usually meaning they owe me money instead of the other way round :clapping: