Childminding and tax credits

[Lmccrean]

Quick question - Im new to childminding - only 2 months in. As of next week Ill be working enough hours for WFTC, BUT, my income changes every week, as do my expenses. I cant see how I can give an accurate figure. I called the helpline today, but they didnt really help me at all.

How do I work it out? Or do I wait until April when I have exact figure for Jan-April, for the review thing tax credit people do, and tell them then?

Try to work out an average for what you will be earning. They always want your annual salary, not monthly. It is better to over estimate your earnings in this case, then at the end of each financial year when you have to tell them your actual earnings it could be that they will owe you some extra money. Try not to under estimate, as you will then owe them money which they usually take back out of your payments due for the following year. Does that make sense to you? hope so x

Thats great thanks! I was hoping thats how it would work The guy on the helpline wasnt able to answer that for me!

No problem, glad I could help.