Getting paid in cash

[sarahjanethomp]

Hi I am new to childminding and I have just started looking after a little girl 2 days a week and her mum is paying me at the beginning of each week for that week which is great but she has been giving me cash which I haven't been putting into my bank as I just spend is when I need it. I have kept all receipts of payment etc. with parents signature, do I need to put this money into the bank for tax purposes? This is probably a really stupid question but I find it hard to get to a bank and so would be easier to just keep it as cash.... Thanks!

[claireLouise]

As long as you record the income in your cashbook as income recieved in the form of cash you do not need to bank it.

Kind Regards

Claire

[Pipsqueak]

I get paid in cash - I give a receipt for it. I don't bank it (would cost me more to get into town and park etc lol). So long as you are accounting for it not a problem

[bubbly]

I get paid in cash for one of my mindees and do what the heck I like with it, as long as I record it in my accounts book for tax purposes. You certainly don't need to bank it if you want to spend it :)

[FizzysFriends]

I don't like getting paid in cash because I spend it in the shops on the way to the bank :blush:

[John]

My best type of payment the old cash (arthur daley) a cash guy like myself, i spend what i need then bank the rest, as you ladys are shoping mad :) and burns a hole to your pockets. Never been one for other methods but one parnt pays a cheuqe.

John

[sarahjanethomp]

Hello,

Thanks for your help,

Sarah.

[cher25]

I also get paid in cash. I do put some in the bank now and again though so i can order thing's online for myself and for work. If they queried it they would have a field day! As the first time i used the account i put in compensation money for a car accident i had.