accounts tax etc [Archive] - Childminding Forum

nic76

12-09-2009, 04:53 PM

do you do your own or do you get an accountant once a year.

all these figures are so confusing. i dont know where to start

nic76

13-09-2009, 09:41 AM

do i need to keep all my gas bills etc forever or just for that tax year?

what if i purchase things on ebay or from paper is a invoice from there ok to keep to show purchase????

sarah707

13-09-2009, 09:44 AM

You need to keep receipts / bank statements / bills etc for 7 years.

The tax office are legally allowed to go back that far if they want to inspect you.

You need to keep all receipts for things over £10.

Do you use the Ncma accounts book or another method? Whichever you choose, it is good to keep it updated every week so that you remember everything you have spend and all your incomings.

Having a good, clear and up-to-date set of books with receipts to back up your purchases will make your life much easier in April when your tax return arrives.

Have a nosey through past threads on this part of the forum - you will find lots of help and advice.

hth :D

nic76

13-09-2009, 11:53 AM

thankyou xx

rickysmiths

13-09-2009, 01:56 PM

Sorry Sarah but you need to keep ALL food reciepts even if they are under £10 for the Environmental Health people.

Also it must be said that if your gross income goes above £30,000pa you must keep all reciepts even for stuff under £10.

nic76

13-09-2009, 02:55 PM

so even if i shop for my family and pop a few extra in for childminding i keep the reciept. great best get a spare room at this rate:rolleyes:

youarewhatyoueat

13-09-2009, 03:11 PM

I pin a large envelope in my kitchen and pop all my receipts in, if I buy anything from ebay I print out the ebay receipt, if I buy from a car boot I just write it on a postit note, I don't provide meals so don't have huge receipts for food but I tend to stock up on snack bits and put that receipt through, and also put through about £5 a month for bits. I'm lazy I do my receipts at the end of the year and use the gas and electric bills to put through the % allowed. It doesn't take long, one evening and its sorted. I use a duplicate book for invoices and tot it up at the end of the year.