Husband thinking of going self employed...need advice plz

[sweetcheeks85]

Was wondering if anyone could give us some info on where we would stand finacially? I work part time 23 hours a week and earn roughly 275 per week. My husband currently works full time and earns 215 a week. We currently recieve £90 per month tax credits and 80 per month Child Benefit. An opportuny might arise next year giving my husband the option of going self employed running a small buisness, however he would only be bringing home about roughly £100 a week (after deductions) the business is not currently making much of a profit but is covering overheads and providing a small wage for my SIL who currently runs it if that makes sense im am not very business orientated lol. In my eyes this seems like a massive gamble as we will be dropping his current wage by half, however my husband is in a job that he really despises and due to the current climate there are no jobs available to him so he sees the above as a real opprtunity to do something with himself. My question is will we still be entiteld to CTC? And will these likely go up or stay the same? Im estimating our joint income will be £20000 per annum if not slightly less. Can anyone advise? Thanx in advance

 

[Hope39]

If your husband is earning less than your tax credits should go up. Go to direct.gov website and you will find a calculator that will work it out for you based on what information you provide to them