accounts when working with hubby

[clare78]

i need help with my accounts

i work together with my husband both registered childminders

i was hoping someone could help me when i work out my accounts do i put that i give hubby a weekly wage that would count as an expense, or do i do my accounts as normal but how will they know the children's income are for two childminders.

the tax office said we both have a tax threshold of £6475 each but not sure to work this out

hope i have explain this ok and someone can help soon.

clare

[Chatterbox Childcare]

If you hubby is registered then you are not employing him

My DH started working with me last Oct (Ofsted are coming out next Monday to complete registration) and we are both now registered as self employed. We also registered as a partnership, this way the accounts are done as one and the profits split. When you complete your tax returns you put down what you are both individually claiming and your tax comes off of that.

[clare78]

ah thank you
so i do them as i normally would on paper
and then on the tax return form i say we are both individually claiming

[Chatterbox Childcare]

ah thank you
so i do them as i normally would on paper
and then on the tax return form i say we are both individually claiming

that is it but if you are using the same accounts/expenses you also need to register and complete a partnership return

[clare78]

i will contact the tax office on monday to sort that part out

thanks for the help