emma04
19-01-2014, 07:39 PM
Have any of you had difficulty borrowing extra money for home improvements/extensions due to you being self employed?
I do my own accounts and tax return (self assessment) each year. My expenses are pretty large, I take in to account the following:
Food (I halve my weekly grocery bill - after working it out individually for 2 years, it was nearly always almost half anyway!)
Fuel (only use car for minding and college - BA hons in EY Education)
Clothing (within reason)
Equipment - craft, toys, activities, toddlers
(Any new car seats, travel cots, buggies etc.)
Wear and tear plus heating and lighting (correct percentage as per childminder guidelines)
However, by claiming for as much as I can legally, it does make my net profit look pretty bad!!
£4000 for the past 3 years! (I only mind 3 days per week!)
So on DH's £25k and my £4k, not forgetting the £100k equity in the house!
I'm still concerned they will say no!
Computer calculator say YES and upon the info I've provided I could borrow £73k!!!! I only want £35k!
What are your experiences, any advice or stories appreciated!
Thank you!
I do my own accounts and tax return (self assessment) each year. My expenses are pretty large, I take in to account the following:
Food (I halve my weekly grocery bill - after working it out individually for 2 years, it was nearly always almost half anyway!)
Fuel (only use car for minding and college - BA hons in EY Education)
Clothing (within reason)
Equipment - craft, toys, activities, toddlers
(Any new car seats, travel cots, buggies etc.)
Wear and tear plus heating and lighting (correct percentage as per childminder guidelines)
However, by claiming for as much as I can legally, it does make my net profit look pretty bad!!
£4000 for the past 3 years! (I only mind 3 days per week!)
So on DH's £25k and my £4k, not forgetting the £100k equity in the house!
I'm still concerned they will say no!
Computer calculator say YES and upon the info I've provided I could borrow £73k!!!! I only want £35k!
What are your experiences, any advice or stories appreciated!
Thank you!