WTC, change of circumstances and leaving tax credits

WilkoSwan

Hello,


I am single, self-employed (32 hours per week) and I claim working tax credits. It's a small amount I receive and that's fair enough.


In the near future I intend to work fewer hours (let's say 25) meaning that I won't be entitled to any WTC, I will update tax credits with this information as soon as it happens. I don't think I will become eligible for any tax credits again and intend to find employment rather than remain self-employed.


My question(s) is about what happens from here. I assume my payments will stop once I inform them that I'm working fewer hours (fair enough) but how do I then 'exit' the tax credits system after that (assuming I become employed)? If it's of any relevance, the area I am in is due to become what I think is called a UC live area in December, but I don't intend to be making any new claim for either tax credits or UC.


Thankyou in advance.

Darksparkle

When you reduce your hours your claim will end subject to the four week run on of tax credits. You'll be sent an awards notice confirming your claim has ended.

After April 2019, you'll be sent an annual review form which you'll still need to complete to finalise the amount of tax credits you were entitled to receive this tax year.

WilkoSwan

Thankyou Darksparkle. Very kind of you to reply and it is much appreciated.


It's good to hear that UC won't come into play.


Thanks once again.