new car bought for childminding-expenses?

[leeanne910]

In may i took out a car on finance to start childminding as it has more seats. i had a ford forcus before and then bought an smax for childminding. how do i claim the buisness proportion and when (i am not registered yet) also had to take out buisness car insurance. Do i claim the extra that costs or is that on the usual mileage rate of 45p?

Had a look on hmrc but i think im in need of more coffee today :)

Any help would be great. if i can claim some even of tiny amount of.my car payments it.would help.

faaannnxxxxxx guys x

[hectors house]

Afraid I don't know but will be watching this thread for answers as getting new car for childminding use in 2 weeks time - up til now I have just claimed 45p per mile, but wondering if the other method where you can put through a percentage of depreciation and percentage of ALL motoring costs would work out better?

[christine e]

Have a read through this old thread - there are only a few posts on it so shouldn't take you long and think it will answer your question

http://www.childmindinghelp.co.uk/forum/book-keeping-accounts-tax-expenses-national-insurance/106487-buying-car-childminding-tax.html

[Chatterbox Childcare]

I don't pay anything extra for business insurance - maybe try ringing a few more companies. I am with Churchill

[leeanne910]

hi i read through the other thread... and i still find it sooo confusing!!!!!! bah :(

i was thinking of doing it the actual cost way and where u claim the buisness proportion on the interest (how ever the hell u do that) as i wont be doing many miles really... or at least i dont think i will...

so i dont know what im doing :(

when i register as self employed with HMRC should i ask them for help with it?? if they can explain it to me

[Chatterbox Childcare]

You need a high percentage of business miles otherwise you will lose out.

[MrAnchovy]

You don't have to make a decision on this until the end of January 2014, and even then you can change your mind later. I'd wait for a year until you see how much you are actually using your car.

Whichever way you do it you need to have a log of each journey: date, destination, purpose, miles done