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Employed to Self Employed transition
Larn
Posts: 11 Forumite
I'm currently working 30 hours a week, I've started a part time business which isn't turning over profit yet.
My wife and I currently receive housing benefit / WTC / CTC and child support.
I want to get the business moving forward quicker and make it a full time job, I'm very confident it will be succesful by the summer, if only I could do 40 a week there. I would gradualy start to take a wage and increase it each month, which would offset the benefits until they would stop all together.
If I quit my job now and declared self employment with 40 hours a week, would my benefits adjust straight away, or would it take a while for it to be calculated? I know that WTC only gets adjusted right away if your income changes by 2500 or something.
I appreciate your help
Thanks
My wife and I currently receive housing benefit / WTC / CTC and child support.
I want to get the business moving forward quicker and make it a full time job, I'm very confident it will be succesful by the summer, if only I could do 40 a week there. I would gradualy start to take a wage and increase it each month, which would offset the benefits until they would stop all together.
If I quit my job now and declared self employment with 40 hours a week, would my benefits adjust straight away, or would it take a while for it to be calculated? I know that WTC only gets adjusted right away if your income changes by 2500 or something.
I appreciate your help
Thanks
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