Self employed WTC

Tease_2

Hi
I'm hoping someone may be able to advise me. The answer may be here already?
My husband has an occupational pension of around £12000 pa and we get full child tax credits for our one child.
We are now setting up our own business, which we both work in. We are planning to both register as self employed in a partnership.
We will be working around 20 hours per week each, sometimes may be more.
Would we now be entitled to WTC credit too? Previously we have not been working but not on any benefits either.
Many thanks in advance.

Tease_2

Sorry, forgot to say as well that in the beginning we would not expect to be making a big profit. Probably around £200 per month between us.

System

Tease wrote: »

Hi
I'm hoping someone may be able to advise me. The answer may be here already?
My husband has an occupational pension of around £12000 pa and we get full child tax credits for our one child.
We are now setting up our own business, which we both work in. We are planning to both register as self employed in a partnership.
We will be working around 20 hours per week each, sometimes may be more.
Would we now be entitled to WTC credit too? Previously we have not been working but not on any benefits either.
Many thanks in advance.

Yes you would be entitled to claim WTC. TCO would need you to supply your Unique Taxpayer Reference (UTR) numbers and your date of commencement so that they could mark you down as being self-employed on your claim.
At the end of the tax year you would each have to declare your profit or loss from your self-employment along with any other taxable income you receive 2009-2010.

You will be issued with the UTR's when you register with the Tax Office as self-employed. There will be one for the partnership and then one each for your individual personal tax returns.