Re: working tax credits changes for self employed from 6th April 2016
it's causing self employed to lie all ways in my opinion .
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Re: working tax credits changes for self employed from 6th April 2016
This needs to stop. Someone needs to start a petition. Net profit of a business is after allowable expenses. It does not form part of an income in the real sense. Let's look at Ltd companies. Net profit remains property of the company. You would have to draw on it via wages or dividend. Self employed can't do that. That to me says they are discriminating against self employed
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Re: working tax credits changes for self employed from 6th April 2016
it gets worse for self employed
https://word.office.live.com/wv/Word...eductions.docx
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Re: working tax credits changes for self employed from 6th April 2016
Originally posted by Pixie View PostConcentrate on your health and PIP application for now S2M
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Re: working tax credits changes for self employed from 6th April 2016
Concentrate on your health and PIP application for now S2M
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Re: working tax credits changes for self employed from 6th April 2016
Originally posted by Pixie View PostI think SXGuy and myself have been saying that all along
As long as you're running a real business (which you are) then you should be alright.
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Re: working tax credits changes for self employed from 6th April 2016
Originally posted by Spent2much View PostI have been reading some replies to questions about what happens and this is one of the replies .
' I just had to verify my business by showing appointments book , receipts and my business card..and clarify the nature of my business '
So seems we will be okay
As long as you're running a real business (which you are) then you should be alright.
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Re: working tax credits changes for self employed from 6th April 2016
I have been reading some replies to questions about what happens and this is one of the replies .
' I just had to verify my business by showing appointments book , receipts and my business card..and clarify the nature of my business '
So seems we will be okay
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Re: working tax credits changes for self employed from 6th April 2016
Guys. Without trying to sound funny. The profit you show on your accounts is nothing to do with how much money you have for yourself. If your really worried about it then reduce the expenses you show to raise your net profit. Let's not forget, if they are basing wtc on your net profit then that's one easy way to "improve" your position.
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Re: working tax credits changes for self employed from 6th April 2016
Hi swiss90. I can empathise with you about being a single parent as I was one for many years. I think all you can do is as SXGuy says in post #52 and complete your WTC form and send it off. It may be that someone from HMRC may want to see proof that you are a real business. As both you and S2M are running actual businesses you should be fine.
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Re: working tax credits changes for self employed from 6th April 2016
Pixie you are correct HMRC are contacting people who are self employed who earn below the Min Wage that's the whole point myself and I believe SM2 are not reaching that, that's the whole point of these posts. If we were earning min wage we would not be worried. You say about getting a 2nd Job to add more money to the pot, but when you are a single parent it hard to find work that I can work around my child. I tried before going self employed and the only jobs around my area is Factory work which is shifts 6-2. 2-10. 10-6 back shift and night shift I will not be able to get a child minder for. As my daughter is only 11 I could not leave my daughter at night not at her age she is now.
I fully understand that government what to crack down on people who don't want to work. but I am out every day delivering leaflets I thought it was better than being unemployed I guess not so now I am being forced back being on jsa until I my daughter is older. I live in the country side so jobs are low esp if I can not work shifts
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Re: working tax credits changes for self employed from 6th April 2016
Originally posted by SXGuy View PostI can't help but say it again. Your all over analysing things.
I think you're right .
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Re: working tax credits changes for self employed from 6th April 2016
I can't help but say it again. Your all over analysing things.
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Re: working tax credits changes for self employed from 6th April 2016
Originally posted by swiss90 View PostAs you can see by what another person has written on facebook it is not just me that has been in contact with HMRC. As I stated you have to been earning £7.20 per hour or £252 per week profit or close to it. I am not sure it I should give in now and sign on because there is no way I could get to that amount by April
New Eligibility for Working Tax Credit
HMRC is contacting some self-employed recipients of Working Tax Credit whose average hourly profit is less than the National Minimum Wage, which is currently £6.70 per hour and will rise to £7.20 in April. < BR>
Your self-employment now needs to be:
- done on a commercial basis, with a view to making a profit
- done regularly and in an organised way
You may not qualify if you do not:
- make, or plan to make, a profit
- have good business records
- work regularly
- follow regulations for your trade or profession
Requested information may include:
- records of earnings and hours worked
- invoices for the work you have done
- receipts for expenses
- summaries of orders or payments received
- a business plan
- how the activity is organised and promoted
In other words you have to run a business properly and not simply say that you are self-employed so that you receive more than JSA which I'm sure some people do. As both you and S2M run legitimate businesses I think you'll be okay though you may have to show how you intend to make the businesses more profitable. I'm not saying that the government won't stop WTC if you're not making NMW but I think that may be in the future. You may need to take on a part-time job to supplement your business. JSA is not the way to go if you can help it!
I have an interest in this as I'm about to start a business and will need to claim WTC, at least to start with.
Originally posted by Spent2much View Postit is true, my husband phoned yesterday for me as i get so anxious and a form has been sent out, i've been back to the doctors too who prescribed another medication he know my phobia of medication but said to try it if i can , well last night i opened the packet took out a pill and couldn't take it .
But last night i slept for 8 hours solid so maybe just making the first step has eased some anxiety, who knows eh x
Look at your mental health in the same way as your debts. You felt a lot better once you started to take charge didn't you? So yes, I think taking the first step will have eased your mind xx
Originally posted by Spent2much View PostHow are you now pixie i often thought about you and i prayed for you too x
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