Working tax credits...going self employed taxi driver!!

scottybhoy

Hey everyone,
I looking for some advice. I am currently working and recieving £77 working tax credits for week. I am thinking of trying out taxi driving and wondering if I will still be able to recieve my tax credits as the amount of hours i will be able to work per week (30-35) will mean that i will only clear roughly £150 per week. Are there any taxi drivers out there that can give me some advice?
Also i am going to start claiming housing benefit , am I better waiting until i start this new job before claiming or just go ahead right now?

Your advice is greatly appreciated!!

themonkeybutler

The first advice i would give is that if youre only going to be clearing £150 a week for 35 hours, I'd rethink the whole taxi thing(!). However, you WILL still get WTC as a self employed person - the same rules apply whether employed or self employed.

TaxCreditHelp

The Tax Credit system doesn't discriminate between employment and self-employment as long as you do the minimum hours required to receive Working Tax Credit (EG 16 hours per week in a joint award and 30 hours per week in a single award). There is an additional element paid if working over 30 hours though. The Tax Credit award will continue to be based on your total income from 6th April to 5th April the following year.

passatrider

As a former taxi driver myself I'd think long and hard about going down this route.
I got out of it myself after 20 years as it causes nothing but debt and grief to be honest.
I went bankrupt twice in this period due to the nature of the job and the costs involved. I have friends who are either getting out of the business or are sinking under the uncertainty.

I'm sorry to sound negative but I'm just telling you as it is. The job itself I enjoyed on the whole, but there's just no money in it!

galachick

my husband has been doing 40-50 hours a week and only clears £100-£120 ... It's something ... but he'd make more as a cleaner. We're splitting up and he won't be able to afford to pay his own bills at this rate. Will mention to him he might get working tax credit - thanks.

tinkerbellisposting

I'd avoid taxi driving, it's an industry laden with debt. I know many who have gone bust. Also someone I know has just lost his school contract, the onlt thing keeping him going, I could cry for him he is such a nice man.