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Working Tax Credit and Becoming Self Employed
stocktonlad
Posts: 8 Forumite
Hi
I work full time and I am close to starting my own business.
My aim is to resign from my job to work full time on my own business. For the first few months i know I wont be earning as much as my current job but I expect within 6 months to be earning the same or more.
Where do i stand regarding working tax credit. Would I be entitled to claim it from day 1 of working on my own, because if I can't I will struggle until i get on my feet with my own business.
Any advice will be greatly appreciated
John
I work full time and I am close to starting my own business.
My aim is to resign from my job to work full time on my own business. For the first few months i know I wont be earning as much as my current job but I expect within 6 months to be earning the same or more.
Where do i stand regarding working tax credit. Would I be entitled to claim it from day 1 of working on my own, because if I can't I will struggle until i get on my feet with my own business.
Any advice will be greatly appreciated
John
0
Comments
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stocktonlad wrote: »Hi
I work full time and I am close to starting my own business.
My aim is to resign from my job to work full time on my own business. For the first few months i know I wont be earning as much as my current job but I expect within 6 months to be earning the same or more.
Where do i stand regarding working tax credit. Would I be entitled to claim it from day 1 of working on my own, because if I can't I will struggle until i get on my feet with my own business.
Any advice will be greatly appreciated
John
If you are working over 30hrs then yes you will be able to apply for WTC. If you have a lot of expenses then I think they will offset against your earnings. But can somone confirm this?0
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