claim for milk = profit???

[k-tots]

Hi

I am just wondering if you put in a claim for milk, do you have to then declare it as an income when calculating your tax return.

Just wondering if it is worth claiming for.

thank you

[hectors house]

I think you do have to put the money you receive back through accounts as income - you will have put your shopping receipts for milk through as an expense and as you probably get more back per pint than you paid for it, then yes you will have made a profit! I have my milk delivered direct from a milkman through Coolmilk scheme that way I don't pay out any money or receive any money - only milk! I just have to confirm with Coolmilk each week by returning their email of how much milk I was entitled to and received and every now and again the National Milk Reinbursement Unit send an e-mail to double check the amounts I have claimed/received.

[Mouse]

I put the amount I spend on milk in my accounts as an expense, then claim the exact amount back from NMRU.

I don't make any profit/loss from the milk as the two figures are the same.

It is worth doing it if you are going to give the children milk as a drink. My minded children have it at morning or afternoon snack time. It's not a huge amount of money (I claim for between 3-5 mini cartons a day, depending on the number of children I have), but it's one more thing I can provide for the children without having to pay for myself :thumbsup:

[hectors house]

Oh yes Mouse I guess if you claim direct from the NMRU you only do get back the exact amount you spent - I was assuming that you would get back the over inflated price per pint that the milk agency companies claim for.

I had a lot of hassle last year with a milk agency (now gone bust) but Coolmilk seem to be ok - I didn't used to give the children milk on a daily basis before I started getting it free, but really enjoy knowing that they are getting the benefit of it now - especially like it in the winter as they can have hot chocolate some days instead.

[tulip0803]

I do what Mouse does - Monthly expense for milk and then same income from Nursery milk. It saves me paying for milk out of my pocket. I buy 4pint milk at the supermarket. Works out roughly £5 ish a month for me so £30 a year that I am reimbursed :)

[Chatterbox Childcare]

If you claim through WRFU/NFRU you will be putting the expense through but you should also get the 10% wear and tear on the income. So a little profit is made