Tax credits self-employed income

[Orangesandlemons77]

Tax credits are asking for the self employed income details, I know it is the figure from the tax return but then read online in the guide it is this figure minus any pension contributions is this correct please?

Are you able to link to the bit where is says it's the figure minus any pension contributions please? If I could see that i might be able to tell whether it's correct or not.

It's here,

www.gov.uk/guidance/tax-credits-working-out-income

under self-employment

Yes it's correct if it's on the government website - i'd screenshot it though just in case lol.

Handy to know too.

It's not what the tax credits helpline told me in the past, they said it's the exact figure from the tax return

Ime use gvt information from online.

So when I ring them I will tell them the revised profit with pension taken off and if they query it in future or say it should be the figure 'from the tax return' then just quote the gov site at them I suppose.

Sometimes i wonder at the staff on the helpline knowing everything, you would think they should

Confusingly, on the online form for tax creidts there is a section for putting in tax payments on their but it says that is just for 'if you're employed' (so not self employed then?)

And if you check the box for self employed profit that says 'the figure from your tax return

How confusing.

excuse typos

I am having a similar problem. When I updated my tax return details for 20/21 I put my self employed income as an estimated zero, as it is slightly less than my pension contributions at about £2k. I filed my self assessment yesterday, and now have my exact profit. The profit is still less than my pension contributions.

I am due to update my tax returns today with my exact profit. I am sure though what they really want is income, so profit minus contributions.

I therefore believe I am to leave my profit as zero even though it says "You estimated how much self-employed profit you made between 6 April 2020 and 5 April 2021. You must report your actual profit before 31 January 2022."

Is that right?