Household Expenditure.. Probably a stupid question!
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  1. #1
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    Default Household Expenditure.. Probably a stupid question!

    I am afraid I am probably going to come across as really stupid but I am trying to get my head around household expenditure.
    I have calculated I will be working 41 hours each week so as the HMRC table states I can claim back 33% of heating & lighting and 10% of water rates, council tax and rent.
    I pay my gas & electric via direct debit each month so do I put down 30% of what I pay via direct debit? Or am I expected to find out exactly what I spend each month?
    As for my rent at this moment I do get a small amount of housing benefit though based on my expected incomings this will stop soon. Do I only consider 10% from the amount I actually pay and not the full monthly rental amount?

    Thank you very much.
    Jen

  2. #2
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    I just put through the amount I pay on Direct debit and amend it when the actual bills show whether i'm in debit or credit with them. And yes I guess for rent you can only claim 10% of the amount you are actually paying each month.

    Don't forget to amend your amounts if you have a holiday as unfortunately you can only claim for hours when you actually have children, not the hours and hours and hours we spend into each evening or weekend doing our paperwork - obviously they expect us to use candles and a treadmill to generate electricity to work the computer!

  3. #3
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    If you use the happy toddlers spreadsheet for accounts, I don't know how to link to another thread but I'm sure it would come up if you searched, you can put bill amounts in and hours worked each day/week and it calculates total hours and percentage that can go through as expenses on a monthly basis, as like previous poster has said when on holiday percentages will change.
    It really is a massive help, with a 3 year old of my own there's no way I'd have the time to work it all out but with the spreadsheet it's so easy just to put the numbers in and let it do it!

  4. #4
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    Quote Originally Posted by jennavictorials View Post
    I am afraid I am probably going to come across as really stupid but I am trying to get my head around household expenditure.
    I have calculated I will be working 41 hours each week so as the HMRC table states I can claim back 33% of heating & lighting and 10% of water rates, council tax and rent.
    I pay my gas & electric via direct debit each month so do I put down 30% of what I pay via direct debit? Or am I expected to find out exactly what I spend each month?
    As for my rent at this moment I do get a small amount of housing benefit though based on my expected incomings this will stop soon. Do I only consider 10% from the amount I actually pay and not the full monthly rental amount?

    Thank you very much.
    Jen
    For your Tax Free Allowances such as Council Tax, water, gas, electricity, household insurance etc etc you need to 'take out' 10% of what you pay monthly or...if you prefer...annually...you do not need to declare what you pay by DD but keep those bill as a must for 3 years for HMRC.

    Also don't forget your wear and tear and weekly allowance for working from home.

    If you can get an accountant to set up your spreadsheet ...there is so much cms do not claim because they are not aware it is allowed.
    Good luck

  5. #5
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    I get an accountant to do mine so much you can claim for which i wouldn't of known.

 

 

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