Self employed - tax credits

red_machenka

I am hoping to start my own business very soon therefore will be self employed. Can anyone tell me will the tax credits people need proof of my total (self employed) income... if yes, what will they ask for.

Thanks

Becles

You don't have to send proof of earnings. You just have to tell them how much you think you will earn at the beginning of the tax year, then give the true figure when you do your annual declaration.

I assume they can check the figures with the Inland Revenueif they suspect you are telling fibs.

red_machenka

I have no intention of telling fibs i just wanted to know if they check and what i would need if they asked me to prove it. thanks

tosca5

red_machenka wrote: »

I have no intention of telling fibs i just wanted to know if they check and what i would need if they asked me to prove it. thanks

For your first claim you can give your estimated annual income, they will then ask for proof at the end of that year.

Becles

I'm self employed but have never had to provide proof of earnings. I just ring up and tell them what my earnings were.