Tax Credits Reminder

Don’t have children? You can still claim Working Tax Credits of up to £230 a month, if your household income is less than £16,100.

A useful top up when you start your business.

 

The Tax Credit Office don’t cope well with the ups and downs of self-employment.

 

So you tell them your expected income for the year.

Whether you are full time, 30 hours a week or part time 16 hours.

If things change by more than £2500 let them know, otherwise you just need to tell them your actual income by 31st July the following year. Hence the reminder, although you can apply at any time.

 

They keep changing their mind about age and eligibility so worth checking it out.

 

The calculator only takes 5 minutes and is not a commitment.  Note: it is based on income, not savings.

 

https://www.gov.uk/tax-credits-calculator

 

Too old for Tax Credits? Try Pension Credit instead

 

https://www.gov.uk/pension-credit-calculator

 

Being savvy and claiming what you are entitled to, is all part of being a successful entrepreneur.

All the best,
Jenny

 

 

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