Going Self Employed Tax Credits

[LongHairedLily]

Hi All,

 

Well due to sign on in another hour and at the end of my tether with the advisor. So now I need to get my business going live. But what do I tell the Tax Credits? I want to submit 30 hours working but with zero hours how do I approach them with that information. Someone mentioned just put down 16 but I will be doing a lot more that 16 hours per week it'll be full time and more. Any information gladly appreciated!

[estellyn]

I don't understand, what do you mean 'with zero hours'? How many self employed hours will you actually be working? That's what you tell HMRC.

[LongHairedLily]

Oops I meant zero income generated from new business.

[estellyn]

Oops I meant zero income generated from new business.

 

That's OK, just tell them the hours you're actually doing. Be aware though, if zero income continues for more than a year or two, it is likely to be questionned - and on universal credit, I think it is only allowed for the first year, after that they treat you as earning minimum wage.

[jadeybags]

I'm self employed on tax credits. Just tell them you are starting up & at the moment you'll be working 30+ hours but no income from it. You'll need to register self employed with HMRC seperately, & they will want your unique tax number HMRC will send you after you register with them, once you receive it.