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Self Employed law entitlment to tax credits

daz1247 · 2010-01-25 20:08:54

Where do i start basicaly my partner and I are self employed and not taking a wage out of the business but we chose to re investing what money there is in new equipment etc. After a tax credit enquiry they have stopped our wtc and child care because we dont meet all 4 conditions of qualifying for Remunerative work it is…

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beanybop Posts: 93 Forumite

26 January 2010 at 11:07PM

For WTC they need your PROFIT figure from your self employment, not what you have taken out of the business.

You cannot use the figure for amount withdrawn, otherwise people could live on savings and not draw out cash from their business and claim maximum tax credits forever.

What you do with your profit - reivesting in business - is your issue, not one for WTC people to worry about.

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Self Employed law entitlment to tax credits

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