Buying back toys????

[pinkellifun]

I've been looking at the information about tax for childminders that Sarah707 has written and it mentions about buying back your child's toys? Can anyone explain this a bit more for me please?

[Kiddleywinks]

If you have some toys your children no longer play with, or are too old for, you can 'buy' them.
My DD no longer wanted her DS, so I gave her £15.00 for the console and all the games, I then wrote out a receipt showing the amount I gave her and individually listed each item - just in case it is ever questioned.
I then put the receipt in my accounts as an expense the same way I do with all my resources.

HTH :thumbsup:

[pinkellifun]

If you have some toys your children no longer play with, or are too old for, you can 'buy' them.
My DD no longer wanted her DS, so I gave her £15.00 for the console and all the games, I then wrote out a receipt showing the amount I gave her and individually listed each item - just in case it is ever questioned.
I then put the receipt in my accounts as an expense the same way I do with all my resources.

HTH :thumbsup:

Great thanks! So if I have a load of toys that used to be my son's but I now use for childminding, I can buy them back. Do I have to list all the toys individually (there's loads!!)? How do you decide how much to give?

[Kiddleywinks]

I base what I give the kids on how much it'd cost me to buy it from a car boot, off facebook selling sites, or how much I really want it but don't want to buy it new lol

EG, My DS had loads of duplo and mega blocks, he's more into lego or big boy stuff now, so was happy to let me have it. I'd been looking on facebook selling sites and could get a big box for £3, would have cost me over £10 for the amount he had, so offered him £8 for the lot ;) He was happy, and I got a bargain :thumbsup:

The receipt said Duplo and mega blocks £8.00
Only wrote all the DS games down so DD couldn't claim later a particular game was hers lol
If I buy off facebook, I copy the conversation and picture into a word doc, showing what's included, and the address where I collect from with the amount paid, and use that as my receipt, so no I don't always write each individual thing, just a general idea.

[pinkellifun]

Thanks so much, Kiddleywinks. :D x

[bunyip]

If you have some toys your children no longer play with, or are too old for, you can 'buy' them.
My DD no longer wanted her DS, so I gave her £15.00 for the console and all the games, I then wrote out a receipt showing the amount I gave her and individually listed each item - just in case it is ever questioned.
I then put the receipt in my accounts as an expense the same way I do with all my resources.

HTH :thumbsup:

:laughing::laughing::laughing: I had a really bad moment reading that. I took DS to mean "darling son" :eeeek: and was just about to call social services when the penny dropped.

I must pay more attention. :blush: