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tax credits

5 replies

zoeuk1 · 07/04/2006 14:31

as its april my tax credit award is due a renewal. i was wondering what happens when you're a childminder and what earnings i will have to declare. do i put my earnings down as what ive earned before or after ive taken off expenses etc. any advice would be helpful because im sure no-one at the tax credits help-line knows what they are talking about. i always seem to get a different reply each time i phone them.(hope ive made sense!)

OP posts:
waterfalls · 07/04/2006 14:34

My bil is self employed and takes off his expenses, hth.

nannynick · 07/04/2006 16:05

I believe that you need to declare your Profit, so that would be Income minus Expenses.
I'm sure there will be others on here who know more of this side of things.

Katymac · 07/04/2006 17:15

Nannynick is right (normally is Grin)

You put your profit down - you can estimate it as long as you ring to correct the figure before 30th Sept

zoeuk1 · 07/04/2006 19:46

ok thanks.

OP posts:
rainmum · 08/04/2006 15:45

I have childminded for a few years now and i send all my paperwork and reciepts to only childminding For only £60 he calculates everything and deducts everything. He has saved me alot of time and worry. He gives you your final figure for tax credit form very quickly as i had the same problem with tax credit 2 years ago. I only put down final figure after deductions.

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