Expenses- help i'm so confused
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  1. #1
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    Post Expenses- help i'm so confused

    Expenses Please help as I'm so confused

    When recording expenses do I put the FULL amount or just a percentage? My working hours vary from week to week! I currently have no children on roll.

    With regards to expenses I know this may sound so daft but I don't work one month but still have business expenses do i still record these? Also some months I don;t have any children and therefore no expenses. In the past I have left it BLANK but do I need to be putting £0.00 in each column on my expenses form?

    Sorry for all of the questions. I am hopeless when it comes to book keeping and accounts

  2. #2
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    Percentage costs are usually based on the amount of hours worked, and tend to be for things like, gas, electric, rent, water, and council tax. It can be for other things too but these will generally be personal to your setting.
    If you don't have any worked hours for one month, then the expense would be 0.

    However, if you buy some resources, eg paper and crayons, then you can still put that through as an expense in full.
    If you do some printing that is work related, eg a learning journey, or laminated numbers for the garden, again, you can put that down as an expense.

    It doesn't necessarily follow that you have no expenses if you have no children attending

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    OK there are different expenses.

    There are the Expenses you have to pay out just to remain legally an Ofsted Registered Childminder whether a child walks through your do or not and these are a Business Expense no matter what:

    Annual Ofsted Registration Fee £35

    Annual IOC Fee £35

    PLI insurance and if that is with Pacey Pacey membership

    Employers PLI if you have an Assistant or if like me a family member is Reg as you Assistant but isn't paid or Employed you still Have to have this PLI

    Cost of advertising, so cost for example of Childcare.co.uk

    Cost of First Aid and Safeguarding Training and Food Hygiene Training if you are required to have it in your area

    Cost of Attendance Register, Accounts Book, any other stationery you use, including Printer Ink and paper.

    Cost of Internet Access and Phone for looking for and replying to prospective parents.

    Any mileage at 45p per mile associated with attending above training, meetings or delivering information to prospective parents, attending childminding groups to keep in touch with other childminders.


    Then there are other expenses that are put through at a % according to how many hours a week you have children in your care. These can be worked out to produce a cost for say every week so you can easily work out the cost as the weekly cost would be for 50 + hours with children so just divide by the number of hours you worked in the week. Have a list of these to hand.

    Council Tax for Year Max of 10% can be offset so divide by 52 to get weekly max (for 50 hours contact with children) and adjust weekly as you work

    Water Rate for year Max of 10% can be offset "

    Gas and Electricity for the year a Max of 33% can be offset "


    Then there are the expenses you have associated with when you actually work.



    Phone and Internet in proportion to the hours you work

    Mileage you use

    Food you use

    Cleaning materials, wet wipes, gloves , nappy sacks, toilet rolls, paper towel, washing powder as used

    Any further training you do

    Any resources you buy toys, craft, paints etc as you buy them when you are working.

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  5. #4
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    Lots of advice from HMRC - and me - bottom left of here - Free Downloads

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  7. #6
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    So even if I have no children I can put through any expenses related to my childminding? Eg i buy printer paper for printing flyers or letters? Or buy some felt tips? I can still record this?

  8. #7
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    Yes of course you can.
    Just because you don't have children to care for doesn't mean you don't have expenses.
    For example: Advertising is an expense that people tend to spend more on when they're not working, to generate new business. That's a business expense.
    Topping up/replacing/redoing things like toys, books, resources, can be done when not working to improve the service you offer when you are, so is a business expense.

 

 

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