Tax Credit Change of Circumstances to Self Employed

stocktonlad1970

Hello,


I'm using the "Change Job" tool in the HMRC Tax Credit online system to tell them I'm now becoming self employed.


One of the questions is "How much self-employed profit do you expect to make between 6 April 2019 and 5 April 2020?"


By profit do they mean, how much wage are you paying yourself during that period, or how much profit will you make for the tax year.


If its the latter, I've no idea, and how will they be able to calculate my claim if they dont know what I'm earning.


Any advice greatly appreciated


Thanks


John

Dazed_and_confused

If you are self employed you won't be paying yourself a "wage".

If you are actually running a limited company you wont be making a profit.

Assuming you are really self employed you will need to make a best guesstimate. Might be prudent to overestimate.