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sax10
07-06-2008, 02:08 PM
i started minding two weeks ago i was wondering if i should be paying tax on full amount i recieve or on the amount im left with after deductions.

also i spent about £400 pounds on start up costs pushchair/ toys / car seats ect can i still claim even though i bought items weeks before i started minding?

mrsb
07-06-2008, 04:12 PM
once you come to do your tax return it all becomes clear....ish;)

you will end up paying tax on what you receive after taking off 10% wear and tear and also after taking off expenses :)

And yes, so long as the items you have bought are for childminding then you can claim for them so long as you have the receipts still :)

sarah707
07-06-2008, 06:09 PM
Have a nosey round the forum - lots of tax deductions threads :D

tulip0803
07-06-2008, 08:42 PM
You can claim your start-up costs as long as you have a receipt for everything over £10. I was told, by the tax office, to put them in the accounts book on the first day of minding as "start-up costs". I am keeping the receipts in an envelope marked start-up costs.

The money that you pay tax on is the amount you are left with after your expences and deductions for wear and tear, elec, water, etc etc