🗳️ ELECTION 2024: THE MSE LEADERS' DEBATE Got a burning question you want us to ask the party leaders ahead of the general election? Submit your suggestions via this form or post them on our dedicated Forum board where you can see and upvote other users' questions. Please note that the Forum's rules on avoiding general political discussion still apply across all boards.

Hi, Single parent about to take up second job..

Options
Hi.

I currently work for a supermarket part time (the big green one) 24 hrs a week.

I am about to start up a self employed business selling working second hand electrical items and also breaking non working ones and selling the good bits as parts.

I have absolutely no idea what my income would be from this.

How for the purposes of tax credits do I arrive at a figure to give them.?.

Comments

  • NYM
    NYM Posts: 4,066 Forumite
    First Anniversary Photogenic Combo Breaker First Post
    Options
    I can't answer your questions but I recommend you get good Public Liability insurance.
  • restless6
    Options
    Dont tax credits have a different way of asking for self employed earnings now?

    In the past you used to just give them an estimate.

    Also if you are working over 30hrs a week, you get an enhancement.

    I am a single parent with two jobs but both PAYE , so they just get my total wages electronically.
  • Orville wrote: »
    Hi.

    I currently work for a supermarket part time (the big green one) 24 hrs a week.

    I am about to start up a self employed business selling working second hand electrical items and also breaking non working ones and selling the good bits as parts.

    I have absolutely no idea what my income would be from this.

    How for the purposes of tax credits do I arrive at a figure to give them.?.

    Good luck with your business. Used to deal with an autistic man with an obsession for electronics - he used to pick up broken Hoovers from the local recycling centre. With the support from his parents he broke the hoovers apart and sold the components on eBay - he started earning so much he no longer claims benefits.
    These are my own views and you should seek advice from your local Benefits Department or CAB.
  • Good luck with your business. Used to deal with an autistic man with an obsession for electronics - he used to pick up broken Hoovers from the local recycling centre. With the support from his parents he broke the hoovers apart and sold the components on eBay - he started earning so much he no longer claims benefits.

    Wow, what a beautiful story. And the power of supportive parents making the difference in their child's life.
    Thanks for sharing, very inspiring.
  • Wow, what a beautiful story. And the power of supportive parents making the difference in their child's life.
    Thanks for sharing, very inspiring.

    It turned tinkering around with broken hoovers and a hoard of parts into a profitable business. It is often the simplest idea that can be a nice money spinner. You only have to look on eBay to see how well some people are doing selling spare parts from what would be landfill waste.
    These are my own views and you should seek advice from your local Benefits Department or CAB.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 8 Election 2024: The MSE Leaders' Debate
  • 343.9K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 236K Work, Benefits & Business
  • 609.2K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards