self employed & tax credit

raq

We have 3 children and am not working at present. Partner is due to go self employed. What figure do we give to the child tax credit?? Don't want to be stuck big time next year with overpayment as we all know it really messes you up. Talking to a friend of ours who is an accountant said the first few years will be tight so give a realistic figure of £13,500.00.

Anyone else in a similiar position or have been

Thanks

Gaz83

You give last year's income at first and then when your award is made, you phone up if you expect an estimate of this year's income to go outwith the limit you are allowed to earn without notifying them.

raq

thanks for the response. We have £115.00 a week at present, baby coming up to 1 year old so will go down. Last years's figure was £17,975.00. Working for a company at the time. Knowing he is going s-employed will be tight and can't afford for the weekly figure to drop in a huge way

Gaz83

In that case, you can ask for the award to be reassessed if you expect to make less this year than you did last, and it may increase your entitlement.

raq

gaz83

thank you so much will update on how we get on