tax credit + Earning query. Please help.

Mumaj

Hi guy. I'm looking to start work again as a mobile hairdresser.

But I have a dilemma. I want to know how much I can earn before I start to effect my tax credits. So that I can set targets for my self to cover my loss from it.

My husband earns £25k.

X

pmlindyloo

Eligibility for tax credits are based on age, family circumstances and hours worked.

You can check here to see if you are eligible first!

http://www.hmrc.gov.uk/taxcredits/keep-up-to-date/changes-affect/work-changes/changes-to-hours.htm

If you then give us your circumstances we may be able to help further or you can use the turn2us benefit calculator.

fabforty

Mumaj wrote: »

Hi guy. I'm looking to start work again as a mobile hairdresser.

But I have a dilemma. I want to know how much I can earn before I start to effect my tax credits. So that I can set targets for my self to cover my loss from it.

My husband earns £25k.

X

Why not just work out how much you can earn as a mobile hairdresser full stop (i.e. if you apply yourself to the business and work as many hours as physically possible, perhaps focusing solely on this instead of the 'paying hobby' that you mention in your other thread)? That way, you might find that you won't even need tax credits on top - just a thought .

zagfles

If your joint income goes up by less than £5k this tax year it won't affect your tax credits this year, but it will next year.