Tax question sorry

[jashol]

Worked out my profit :) really happy and relaxed now :) but does any body know how much you can make before you are taxed ?

[Essbops]

I think for this year it's home up to about £180 ish but the year before was about £135 - £150 can not remember exactly sorry !

[Tazmin68]

This year was £8105. Just completed my accounts and was under so no tax to pay.

[oxfordshirecm]

Tazmin68- how much was your gross earnings if you don't mind me asking? Have done my accounts and have to pay £1500 so now thinking whether I have claimed everything possible for the expenses?

[jashol]

Mine is under then :) no tax too thankyou

[Tazmin68]

It was approx 16500 top line. I put through all the group fees that I attend, fuel for groups, nursery runs and school run in afternoon as I meet one parent there and hand over a toddle and parents buggy so have to use car. Because children have use of laptop and use cbeebies, friv and I use it for minding I also put my broadband unlimited as I go over what was free entitlement so that is extra £7.50 a month. Obviously food, equipment, advertising, batteries for toys. I treated my self and ordered replacement fleece and polo shirts with my logo on. Ink cartridges, paper, pens etc. I put the difference between what would have been normal house insurance and minding house insurance that is usually a couple of hundred pounds difference. The same goes for my car insurance.

[Tazmin68]

It was approx 16500 top line. I put through all the group fees that I attend, fuel for groups, nursery runs and school run in afternoon as I meet one parent there and hand over a toddle and parents buggy so have to use car. Because children have use of laptop and use cbeebies, friv and I use it for minding I also put my broadband unlimited as I go over what was free entitlement so that is extra £7.50 a month. Obviously food, equipment, advertising, batteries for toys. I treated my self and ordered replacement fleece and polo shirts with my logo on. Ink cartridges, paper, pens etc. I put the difference between what would have been normal house insurance and minding house insurance that is usually a couple of hundred pounds difference. The same goes for my car insurance.

The threshold to pay class 4 ni for this year was £7605 and my gross profit was £7714 so I will need to pay extra on national insurance.

[MrAnchovy]

I don't usually tell people what they can't claim but I'm afraid if others follow your lead they will run into problems, so I'm sorry but...


fuel for groups

What do you mean by fuel? You should be claiming mileage at 45p per mile (up to 10,000 miles).


Because children have use of laptop and use cbeebies, friv and I use it for minding I also put my broadband unlimited as I go over what was free entitlement so that is extra £7.50 a month.

Do you use this yourself? If so you can only claim a fair proportion, not the whole amount.


I put the difference between what would have been normal house insurance and minding house insurance that is usually a couple of hundred pounds difference.

Although it seems unfair, you cannot claim this. You can however claim a fair proportion of your total home contents insurance.


The same goes for my car insurance.

Car insurance and all other motoring costs are included in the 45p a mile.

[Tazmin68]

it is 45p per mile that I claim with regards to the car and as there has been no difference between business use and normal use premiums for the car for the car I have not put a difference through for about 5 years.

I was told that to work out what was reasonable between normal house insurance and minding house insurance was to do a like for like comparison and put through the difference.

I have just completed my sef assessment and as I had reached the class 4 threshold I have a bill for £14.81

It is only because of childminding that my broadband usage exceeds to free allowance from my provider which is why I put through the charges that I pay as if I was not minding I would not be paying the £7.50 a month.

[Tazmin68]

it is 45p per mile that I claim with regards to the car and as there has been no difference between business use and normal use premiums for the car for the car I have not put a difference through for about 5 years.

I was told that to work out what was reasonable between normal house insurance and minding house insurance was to do a like for like comparison and put through the difference.

I have just completed my sef assessment and as I had reached the class 4 threshold I have a bill for £14.81

It is only because of childminding that my broadband usage exceeds to free allowance from my provider which is why I put through the charges that I pay as if I was not minding I would not be paying the £7.50 a month.

Someone also mention putting through a figure with regards to transferring toys that own children have grown out of to changing them to the sole use of childminding toys. I never knew about that.

[zippy]

Mr A just doing mine what would you consider to be a fair portion of home ins to be

[MrAnchovy]

Mr A just doing mine what would you consider to be a fair portion of home ins to be

I can't answer that for you I'm afraid, but I am aware that HMRC have accepted 10% without further inquiry in some cases.

[Tazmin68]

Hi

I though it was worth updating on my question. I attended the hmrc webinar for childminders last night and I raised this question with them and they confirmed that by putting through the difference between what would have been normal building and contents insurance and the higher premium that we pay to cover business use and accidental damage by mindees is actually acceptable.

We were also told that if we paid for example boiler insurance then again put through a percentage like water rates and council tax.

Someone mentioned that she had bought a new steam mop as previous one broken and again was told that again she could put through a percentage.

We were told that we could put through a flat rate with regards to meals instead of keeping all food receipts but that does worry me as I know of minders who were inspected and did do this and ended up with a tax bill.

[Marshmallow]

I can't answer that for you I'm afraid, but I am aware that HMRC have accepted 10% without further inquiry in some cases.

:thumbsup: Ooopsy, when did the mileage go up to 45p per mile, I thought it 40p ?

Also, can I claim for my mobile phone, plz ?

[kp0781]

On a slight tangent of your home ins charge extra? Mine is included with nationwide
Also fuel has been 45p for a couple if years at least :-)

[Tazmin68]

My normal building and contents insurance did not cover accidental damage by mindees which is why premium is higher. I would check you are fully covered. I had an 11 yr old mindee break my patio door while doing a fire drill ended up with new patio door thank god for the insurance.

[Tazmin68]

With regards to mobile you need to have itemised calls so you can highlight call costs or if pay as you go put through a proportion bu need to be reasonable