BY : Chris Mcdougall


Working Tax Credits,can it work for you? Well it is so far working for me, I was one of those stay on the dole, doing my music stuff, avoiding all the mishaps like job interviews having to go to all the miserable job clubs, new deals, job placement schemes,doing my time getting nowhere just so I could write, record, rehearse and play live. Eventually all this came to an end, when asked if I would be interested in doing a business course and starting a new business. Now I was lucky in the fact I had been doing a stint of DJ work for next to nothing to gain confidence and to get myself motivated and had coming up been offered a nice earner doing a wedding for someone that had happened to see me in action.This was to be my entrance into the workplace, so I used this as my business venture now I had to figure out how to get more work in this area. WTC for me is that in order to obtain this payment you have to work a minimum of 30 hours a week, its works out about a couple of grand a year which is paid weekly into a bank account around £52 a week.You are also entitled to housing benefit before you start earning for your business. Next get your accounts in order, get a ledger and when you earn you make an entry of how much you earn into your ledger.You also need to register your business with HM&Customs and the Inland Revenue and once a year declare your income with a Tax return self assessment form which can be found on there website, I do mine online and it is well informed and easy to do, you can also get a paper form if you find this easier. I have now been on Tax Credits for over 3 years and about to go on a fourth this because my earnings are still low and I still don't earn enough to come off it, but although it is marginally less than what I was getting when I was on income support I get by just about. Still it motivates me to do stuff and I have now broadened my scope to include other music related stuff e.g guitar tuition as well as DJ work. The best thing about getting Tax Credits is that I don't have to report to a job adviser every 2 weeks and justify my existence. Also you don't have to be unemployed to qualify for working tax credits, Below is a link to get more information on Working Tax Credits.