earned more than estimated

teenee60

hi we are both self employed(partnership).been claiming working tax credit,on the claim i put our drawings as a estimate earnings.the accounts have come back and show we made a profit,so we both have a tax bill.now the tax credit wanted to know our actual earnings,i have let them know,but it is more than the estimate.what happens now????????

Voyager2002

Not much. Probably the amount you get in tax credits next year will be reduced, because your higher than expected earnings mean that you don't need so much support.

Anyway, congratulations on making your own business work, and doing even better than you thought you would.

teenee60

ooh thanks voyager2002,i think we have dragged ourself's & our shop through this downturn and that's nice of you to say that.
i don't really know where to profit has gone though!!!!