Company Director and Tax credits advice please

nodebtdream

Hello, i am in the process of starting a business and i am trying to work out which will be the best way for me to proceed.

Both myself and my partner work part time 16 hours and recieve working and child tax credits.

If i were to form a Private Limited Company and put myself as Director but not take any wages or dividend payments would our tax credits remain the same or would the tax credits still take the companies profits (if any) into consideration when processing our claim ?

In an ideal world i would like to leave all profit in the business to develop it further without having to pay myself a wage to compensate for loss of tax credits.

Any advice anyone can offer will be greatly appreciated.

Thanks
DFD

nodebtdream

I have phoned the Tax Credits advice line and have been told that as long as we dont take any income ie. wages or dividend from the company our tax credits will remain the same.

I hope this helps someone with a similar question