Being self-employed & tax credits

[aly]

Hi

I phoned the Tax Credits line last week just to see what sort of money we would lose/gain when I become registered. I asked them about when I am registered and phoning them to tell them I'll be Self employed.
The girl explained how the work it etc..I would ring them and give them an estimate of how much I would earn etc :confused:...I haven't a clue where to start. I mean I wont know if I have anyone to start with...how many hours.....how many children so when you started what figures did you give them?

Sorry :panic:....and I am not even registered yet lol

[sarah707]

They advise that you don't come off your current benefits (if you are on them) until you actually start working as a childminder.

Then you will know how much you are likely to be earning because you will have a child on your books and a regular income.

With that figure they balance your benefits, so you might owe a bit back to one and they might owe you a bit for another.

It's not toooo complicated once you're ready to do it, Citizens Advice are great for extra help as well if you are not sure.

hth :D

[FizzysFriends]

You can amend your income as many times as you need to, so everytime you get or lose a child its worth calling them so that at the end of the year it pretty much balances.

[aly]

Thanks both....I usually phone them straightaway if theres a change to my partners income. Im not on any benefits apart from the tax credits. {living off him } ;)ha ha

I only got til april {if i get any mindees thatis]

:thumbsup:

[sue m]

I've had problems with this and also every other benefit department. Whatever you do, take the name of whoever you speak to, write down exactly what was said and I always send a letter and keep a copy. I learned the hard way and more than once!

[tulip0803]

I have just rung them today as I am now re-registered in Wales and have my first mindee. Before I rung I worked out how many weeks till April & timesed it by the £16.50 that I am getting for him. Then worked out what my start-up costs and basic running costs with just him as expences. told both figures to tax credit people and I am now officially earning less than I did yesterday:D . As I work part-time the loss that I will make is offset by that IYSWIM :rolleyes:. They just said to ring when I get anyone else:)

So just wait till you get someone and then they will help you work it out. The man I had was very helpful and just went through what I had done and agreed that was right.:) . Tax credits and helpful don't often go together:p

[aly]

I have just rung them today as I am now re-registered in Wales and have my first mindee. Before I rung I worked out how many weeks till April & timesed it by the £16.50 that I am getting for him. Then worked out what my start-up costs and basic running costs with just him as expences. told both figures to tax credit people and I am now officially earning less than I did yesterday:D . As I work part-time the loss that I will make is offset by that IYSWIM :rolleyes:. They just said to ring when I get anyone else:)

So just wait till you get someone and then they will help you work it out. The man I had was very helpful and just went through what I had done and agreed that was right.:) . Tax credits and helpful don't often go together:p

Hi
where abouts in Wales are you...I'm also from wales [south].

i love your avatar lmao

[tulip0803]

Hi
where abouts in Wales are you...I'm also from wales [south].

i love your avatar lmao

Over near Carmarthen t'other side of Swansea xx

[aly]

I'm caerphilly side