Hi,
I am single parent, self employed 16 hours per week and unfortunately don't make minimum wage per hour I work, although i'm hoping this will change in the future. I earn approx £70 per week.
I have just been offered some casual work with a huge organisation, there will be some potential in the future to move up the ladder, but right now they can only offer me work on a casual basis, as it when it comes up. The pay is £8.33 per hour and they said most weeks I should get some work, although each shift is only 2 hours.
I'm worried about how this will affect my tax credits, what do I need to do? Do I phone HMRC, tell them I have some casual work and simply guess what i'll be earning in both of my jobs? In terms of tax, do I put on my tax return what i've earned from self employment and also paid employment and they will then tax me accordingly? I'm assuming I won't pay tax on my employment as i'll be luck to pick up enough shifts to earn enough, but when you combine it with my SE, I may owe tax? I suppose i'd need to put some money away to be on the safe side.
I'm worried about the new changes in regards to self employment and that i'll have to close my business down if I don't earn 24 hours x minimum wage from April, does anyone know if this will be the case? I won't really be able to survive on the casual work as there'll be weeks when I have no work.