Think this might have been a bad idea!!

[naomiesian]

I`m pre-reg at the moment, am hoping to be up and running beginning of oct, I have 1 child ready to start as soon as I'm reg, for 4 and a half hours a week, and another child hopefully for 16 hours a week, I also work elsewhere 16 hours a week and claim Tc , I earn £5473.00 a year as an employee. I'm Just so worried that when I start cm I'm going to be so much worse of financially ( struggling to get by with what I get now) I have already paid out for so much, Ofsted fees, doctors fees, insurance, books, not to mention toys and equipment and people keep telling me I can claim all this back but if I don't earn enough to have to pay tax, surely that would mean that I'm just going to be out of pocket all the money I have spent.
My partner was made redundant last year and as a result of this he is not living with myself and our children at the moment because we would just be worse of than we already are, I'm just so concerned that I'm not going to be able to keep a roof over our heads for the first year of me starting my business. I live in a village where there are no childminders and have many people interested in my service, so maybe I'm just overreacting because its something new, any advice would be appreciated please Naomiesian xx

[ORKSIE]

If you are "The only CM in the village" then all I can is....Lucky You:thumbsup:
I'm sure once your up and running and you fill your spaces you will realise that you can make a living out of CM.
Good Luck, Hope your Partner can move back in soon:)

[youarewhatyoueat]

Even though you will lose about 30p in the £1 of tax credits for every extra pound you earn, you will be the 70p better off, also all the expenses will come off the gross cm earnings as its only the net amount taken into account, also don't forget that a % of heat,light, wera and tear is also taken into account. I'm in much the same position as you having a second job and as i've done more minding i've dropped houras on the other job and I am definately better off.

[The Juggler]

also, if demand is high enough you could leave your employment and do all childminding.

[Chatterbox Childcare]

I think you will be fine and as the only childminder will be in demand - maybe if you get enough your partner could work alongiside you and double your income.

For the taxable fee you take your earnings, less expenses (these are mostly normal household bills anyway) and the balance is what you will be taxed on.

[rickysmiths]

Lucky you being the only cm in the village. It may take a little while to build up but it is possible to make a good living. I now earn more than my full time Primary school teacher dh so don't loose heart. Good Luck.

[naomiesian]

Thanks everyone for the advice and reasurance, def got the other child for 16 hours a week once im reg so feeling a bit more positive now! And had 2 more inquires as to how soon I will be reg as they are desperate for a cm so things are looking up :clapping: , Thanks again xxxxxxxxxxxx