child tax credit and working tax credit help

cwylee

Could someone give me some advice on my situation...
I have a two yr old and an eight week old baby and my husband and i will be out of a job and a place to live soon (job provides accommodation).

Currently we already claim child tax credits and working tax credits but what i want to know is if my husband wants to start his own business which involves him buying a leasehold business, will our working tax credit be stopped?

Thanks in advance.

[Deleted User]

If he is working as self employed he wont be treated any differently as if he were working for an employer.

Just make sure he is working enough hours - 16 p/w minimum - to claim.

And also make TCO aware of the change.

ellyf

as above - as long as tax credit office are aware & he's working enough hours, being self employed doesnt affect your wtc/ctc. be aware though of underestimating your current year income estimates as this can lead to overpayments. also when declaring your income at the end of the tax year, you declare net profit, not gross income as you would if he were PAYE. hope this helps.