Incapacitated child tax credit and self-employment

A

anby

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I was made redundant at the end of March 2011 and am still on the dole. I will most likely start as a sole trader on 1st January 2012. My wife works and earns 38k. We get Incapacitated child tax credit, split between us.

Question: if I become a sole trader, is my eligibility for ICTC gone? If it is, can I transfer 100% of this credit to my wife?

It's very hard to find this information on the revenue or CA websites, so I hope someone can help!
Anthony
 
no its not gone
you do not need to be a paye employee to claim it
you do need to have paid tax to utilise it

Where the child is maintained by more than one person, the tax credit is divided between them in proportion to the amount paid by each towards the maintenance of the child.


http://www.revenue.ie/en/tax/it/leaflets/it18.html
 
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