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Going from SAHM to Self employed

(3 Posts)
Posesinavase Thu 01-Aug-19 22:00:55

my dh works ft while I stay at home (2yo and 1yo). We currently get child tax credits.

I want to go back to work and can start self employed on a part time basis.

I'm worried that it will take me months to turn a profit as to start with any profit will have to go back into business but I'll lose child tax credits as soon as I register as self employed.

Anyone with any advice?

OP’s posts: |
Posesinavase Wed 07-Aug-19 13:48:29

Bump

OP’s posts: |
user87382294757 Sat 17-Aug-19 17:51:44

Hi, we get tax credits and DH is self employed. I don;t think you would lose it by going self employed, as it is based on your profit. So, if in first year it was low they would just add that amount to your Dh's income to calculate your total income and base it on that. You can even do something were if you make a loss you can take that figure from the total income also. If you have a look online at tax credits and self employed it explains it.

Perhaps you mean it could be a change in circumstances leading to a new claim for UC instead? You could contact tax credits and check that out- there helpline and online chat is pretty useful.

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