Going self employed

[Char&Bump-x]

My goal for 2014 is to set myself up as a self employed nail technician. I'm quite close to finishing my course at college now so need to look into doing it sooner rather than later.

I'm currently a SAHM on income support, when i register as self employed what do i do next? Cancel my income support and apply for working tax credits? How long am i looking at being without tax credits for?

Just worried i'll be without any money but wages (which will be low) for a long time and it's putting me off.

 

[RaspberryK]

I think there's or was a new business grant/allowance available for people in your situation. I'd get some advice from cab or job centre xx

 

[stephx]

You don't actually need to cancel income support, when you change your circumstances with tax credits they automatically notify IS and cancel your claim.

You won't be without tax credits- it changes over straight away

If you will be earning under the tax bracket make sure to complete a tax exemption form and you should still get housing benefit towards your rent if you don't earn that much x

 

[Jaysmummy]

This is my goal for the year also although I will be doing the Essential Nails course from home and then going mobile.

I'm not on IS though I used to be and when I started work I informed both the tax credits and DWP as they don't communicate with each other well and you really don't want to be hauled up for a fraud investigation. It is up to you to notify the DWP not the Tax Credits office.

Tax Credits in my experience can take upto 6 weeks to sort your claim BUT because you already have a claim I don't think you will be without money so to speak. You'll probably have to give them a rough estimate of what you expect to earn and they'll adjust your credits by that.

Good luck!