Anybody know anything about Tax Credits? I think I have made a giant booboo :(
I registered as self employed towards the back end of 2013, between then and now I've had 2 babies, so 2 sets of maternity allowance plus I was really poorly during both of my pregnancies so while my business is running, I have made very little profit, less than £1000 total. I have filled in a tax return for my first year and about to do my second.
Anyway, while looking through some papers this evening, I have discovered that Tax Credits do not have me registered as self employed as I'm not down as working, just jointly claiming with my husband. From the online calculator the amount we would have received was the same as what we got due to my earnings being so low.
The question I'm asking is what are HMRC likely to do when I ring to tell them I've actually been self employed all this time? My fault completely for not checking things, but I'm nearly positive I did tell them at the time as I had a business advisor who helped me out with setting everything up.