Do you need to be a partnership?

[Sally69]

Hi there,

I am going to be working with my daughter as co-minders. I just wondered whether for tax purposes we need to be a partnership or whether it is ok for us just to be individuals. I cant decide which would be easier when doing the accounts for trying to work out expenses etc.

I'm also panicking a bit about planning permission as our authority are bad enough about 1 c/m working alone!

Thank you for any advice

[Bicky]

My wife and I are also going to be working together and have been told we will have to fill in separate tax returns but they will be linked together through the business. I don't know how it works but that was from someone at HMRC after we had asked them. Hope that helps.

[Rachael's stars]

Me and my sister have our pre reg visit wed and will be doing our own tax returns as for planning permission are there any other co minders in your area you could ask what they have done?, when I spoke to otherchild minders and lead practitioners at a network I went to last week they basiclly said no one in my local authority has applied for it and they have all been fine

[Sally69]

Thanks for that, I think perhaps I may have to visit HMRC and have a chat.

As for planning I know not many have applied cos they take the full £300ish and then turn a lot down! I have no chance where I live, but feel bad in case someone complains and then I get shut down. It's tricky!

[*daisychain*]

I was lucky with planning permission and didn't need it. It is now mentioned in the revised EYFS that you do need to follow all local authorities rules with regards to planning permission, and your insurance may not cover you if you go ahead and not have permission .

[Ncarr1981]

My Husband and I are in Wales and applied for planning we paid £360 and are allowed 12 children. Cssiw were surprised planning agreed as apparently they usually decline. As for tax returns we do accounts for the business then split it 50/50 on self employed tax return. Not sure if this is right? We will get an accountant for next year, far to stressful!!

[Chatterbox Childcare]

My DH started co minding with me in Oct 2010 with no pay! We both started in a partnership as of the 1st April 2011 and now I have employed an accountant. The partnership has all the income and expenses and we do a separate tax return each with the profits split. I did the first partnership return and had to pay for software to upload it to the HMRC and decided that I needed expert advice to do this and keep my tax bill down.

[Donkey]

this is something I need to mull over for the new financial year

what to do what to do....