Self Employment & Tax Credits

MarkyJ12

I originally posted this in another forum but not sure if that was the right one so trying here as this looks probably the better forum for me. Anyway :-


Hi


I am looking to start up a new business as a sole trader in the next few months, I will be self employed.


Initially I will be working 40 hours a week but I doubt for the first few weeks or months I will be making anything other than small amounts of money and certainly not having a wage from it.


I know I can apply for working tax credits and child tax credits to help me out while the business is picking up but what do I put down for the amount of hours I work? I can say 40 hours but I am not actually getting a wage, certainly not initially so what do I put down? A bit confused here.


Thank you

MarkyJ12

Hi,

Thanks for replying, in 13/14 I was getting ESA.

And ok thats fair enough, I am trying to do some fact finding as I haven't started the business yet, I have a few things to get together and plenty of preparation to do but I know that initially I won't have much if any money coming in so I would know I would need to claim working tax credits until I did start earning money of course but I was unsure about the hours to put down, it will be at least 40 hours per week I put into this and probably more, but I dont have a wage or such or any actual money I am getting from that so was looking for clarification.

Also as I stated I don't have anything to work from

MarkyJ12

Ah that's fabulous thanks, so many things to sort out and trying to knock one thing off the list at a time, thank you again