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Advice re self employed and carers allowance.

5 replies

Shekinah · 06/06/2010 08:30

I am going self employed. It is projected that I will not earn any wage for at least a year as company in start up phase. Basically I will be a volunteer!
I will not be paying myself a wage as all the money is being taken by overheads. This has been calculated.
I also get Carers Allowance for my son. I have to inform them how much I earn. As I earn nothing do I have to inform them?
When I telephoned them the lady was suitably vague and could not give me any information on 1.how to inform them. 2.What time intervals between informing them of earnings eg monthly,weekly,yearly and 3. Didn't know what evidence of earnings/non-earnings/profit/loss etc I need to send except to say a photocopy of that weeks/months accounts will not be sufficient!!
What do I send then?
When do I send it?
Do I even need to send it as I am not drawing a wage?

Also I am working 16 hours per week on average. Am I entitled to claim Working Tax Credits even though I have no income from the self employment?

I went to 2 different business Advisors but they didn't know anythng about the Carers Allowance people so couldn't advise me.

Is anyone here in the same boat? Do you understand what evidence the CA people need?

OP posts:
Katymac · 06/06/2010 08:36

WTC will accept a claim you need to estimate your income & inform them

If you slip into making money let them know asap as it will stop an over payment

WTC will accept a copy of you self assessment form plus the letter from the tax office accepting your calculations (& telling you haw much tax to pay; if your case £0)

Don't know about carers allowance sorry

foreverastudent · 06/06/2010 08:56

Carers Allowance has an earning limit of about £80-£100pwk so as long as you dont earn that you will keep getting that.

When you've done a rax return send tham that but if your earninga are zero it's almost academic.

Yes you can get WTC as long as you are working 16 hours. They will give you your maximum entitlement, based on £0 earnings. Although, carers allowance does count as income for tax credits it is so low it wont decrease payments.

FlexibleAccountant · 07/06/2010 09:39

Shekinah congratulations on your decision to become self employed.

Can you confirm whether you are going to be a sole trader or are you setting up a Ltd company?

Do you understand that if you are a sole trader you pay tax based on the taxable profits you make from your trade. If you set up a Ltd company you either pay yourself a wage and/or dividends and you pay income tax on these (PAYE and NI on wages).

The "proof" of what you earn will be the underlying books and records which you will use to either complete your sole trader income tax return or to prepare your company accounts and company tax return and therefore personal tax return.

I don't have any expert knowledge re benefits but I will try and help you clarify your questions and find some online resources to help.

I would then recommend that you get something in writing setting out what you understand the position to be and requesting a reply to confirm.

You have got 2 main questions:

What is the impact of your self employed earnings on Carer's allowance and how do you report them.

Are you entitled to WTC and how do you report self-employed income .

I would add in another question - is there an impact from hacing carers allownace and WTC?

Have you looked at Carers Allowance info on direct gov?

Was it the Carers Allowance Unit that you spoke to? Fromt that link:

Work and earnings
You cannot get Carer's Allowance if you earn more than £100 a week after money has been taken off to allow for your expenses.

Expenses that are allowed are for things like:

?some National Insurance (NI) contributions
?Income Tax
?half of any money you pay towards personal or occupational pension schemes
?other expenses you have to pay because they are a necessary part of your job
After allowing for these things, you are allowed up to half the rest of the money you earn to help meet the cost of paying someone else (but not a close relative) to look after a child or children, or the person you look after, while you are at work.

For example, you need to report:

?changes to income or employment for you or a dependent adult

There must be additional guidance from the Carers Unit because the above is quite vague.

For Working Tax Credit look here.

If you have children, you need to be aged 16 or over and do paid work of at least 16 hours a week to qualify.

If you're self-employed, paid work means any work you do for payment (or would expect to be paid) or profit.

GladioliBuckets · 17/06/2010 16:13

Is this site/helpline any more use?

saintlydamemrsturnip · 29/06/2010 11:15

I spoke to someone helpful at Carers a few years ago and she said as long as my average in a month worked out at a weekly rate of below the limit it was OK. I haven't received CA for a few years as I've been a student (same amount of caring but never mind) but I'm about to be self employed and back on CA and will apply that formula.

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