alicemorgan3303

For your Working Tax Credit renewal, you'll need to use your actual taxable profits for the year, which in your case is £9,500. The Working Tax Credit is based on your income, so this figure will be relevant. The loan you took out for the purchase doesn’t affect your income for tax credit purposes—it’s considered a separate financial matter. To ensure you’re correctly interpreting the guidelines and making an accurate claim, it’s a good idea to consult the latest guidance on the HMRC website or speak directly with a tax credit advisor. They can provide specific advice based on your circumstances. It’s always better to clarify to avoid any issues later on.