If you buy a car just for CM

[Ben10mad]

If you buy a car just for the use of childminding how would it work with tax and expenses, how much could i put though.

Any replys would be much apprechiated x

[Chatterbox Childcare]

You have to keep mileage records and you can either claim .40p for each mile you do or the business percentage of your mileage against the expenses incurred relating to the car

i.e. if you do 100% business miles and can show the mileage for it claim 100% of the car costs. this is not when you have a mindee in the car with you but when you do the mileage for 100% of mindee benefit.

Hope that makes sense but come back and ask more specific questions as it is quite a mine field of information.

[Cazz]

Are you asking about claiming for the actual purchase of a new car? Or have I misunderstood?

I can't help you though as I think that's even more complicated - depreciation etc. Debbie would probably be the best person to advise you about that!

[lindylou]

You can claim for 25 per cent per year for 3 years of the cars cost for example my husband brought a van for 10.000 he claimed 25 per cent 1st year 2500 then 2nd year 25 per cent of what is left ie 7500 so it was 1875 and 25 per cent of what is left 3rd year ie 5625 so it is 1406.25 Hope this is clear to you one of my mums is a tax inspector
Only problem with childminders they might ask you to prove you only use it for childminding purposes but if hubby has a car you are okay
Luv Linx

[Chatterbox Childcare]

You can claim for 25 per cent per year for 3 years of the cars cost for example my husband brought a van for 10.000 he claimed 25 per cent 1st year 2500 then 2nd year 25 per cent of what is left ie 7500 so it was 1875 and 25 per cent of what is left 3rd year ie 5625 so it is 1406.25 Hope this is clear to you one of my mums is a tax inspector
Only problem with childminders they might ask you to prove you only use it for childminding purposes but if hubby has a car you are okay
Luv Linx

Sorry Linda but the laws all changed in April 2009.

You can could claim up to a maximum of 25% but it was capped at £2000. Now it is only 20% if you car has omissions below 167 otherwise it is 10%.

Ask you parent and she can give you the most up to date information

[Chatterbox Childcare]

It is quite involved and takes too long to write out so if you are interested in going down the capital depreciation route pm me and I will send it over in word.

this is from a conversation I had with an inspector in May that came to an NCMA Forum and it might help you decide which way to go

http://childmindinghelp.co.uk/forum/showthread.php?t=32523