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Starting a small business but will i lose tax credits

(2 Posts)
Gems16 Fri 02-Sep-16 10:56:21

Just looking for a bit of advice, i have no clue about this sort of stuff. So basically my husband works full time and im a stay at home mum to 2 kids, in my spare time i enjoy doing anything creative so I've been making little hand made hair accessories for my little girl. When i take her out so many people comment on them and ask where i got them. I've started making some for friends and family too. I've now come to realise there's a potential to make some money out of this so im thinking about setting up a small Facebook business. My question is how do i inform tax credits?? Would i have to ring them up every week to let them know how much I've made or yearly or what? Also would my child tax credits stop. I get £118 a week now in tax credits and that pays my rent so i really couldn't afford to lose that. Any advice would be greatly appreciated. Thanks in advance

TaIkinPeace Fri 02-Sep-16 21:13:12

Chances are your "business" makes a loss
talkinpeace2.blogspot.co.uk/2014/09/here-is-list-of-questions-i-most.html
and so classifies as a hobby

once its making a profit then you register it as such and claim working tax credits and it all pans out smile

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