Are your accounts 100% accurate

[grindal]

I'm not really sure how to word this and I realsie this question may offend people - so please don't shout at me too much....
How legitimate are all of your accounts? I am thinking particularly about special offers and cheap lines. For example I buy Sainsburys 25p tissues for minding. Should I record this in my accounts book or should I claim for £1.65 Boots tissues to maximise my expenditure and reduce my future tax bill?
Or is my question likely to get me thrown off the forum cos what I am asking is ILLEGAL :blush: :blush: :blush:

[FizzysFriends]

I claim for what I spend, I wouldn't put something through that I didn't buy or at an inflated price.

[venus89]

In all honesty, mine are not 100% accurate.
If I buy one get one free on tissues (to go down your route of thinking) then I put the price of one box of tissues down in the taxes. The 2 boxes of tissues are used by my family and my mindees meaning that I'm effectively getting a free box of tissues out of the deal. :blush:
If I'm going t the shops to buy clothes for my kids and find a toy for my business I put the mileage to the shops down in my tax.:blush: After all, I did drive there and buy something for my business.....

[grindal]

Thank you both - FizzysFriends I am not asking about claiming for things I am not buying, more as venus89 has said - if things are buy one get one free - do you half the price of the item or use one for home and claim the full price. Like I said, I realise I am on dodgy ground and will offend some people so sorry :blush:

[Pipsqueak]

No offence taken - I think that the majority of people in all aspects of business have a twiddle of the figures. After all look at our esteemed politicians expenses and accounts.

I try to keep mine as accurate as possible although the bogofs might get a little mixed up lol - the way I see it (and the luck of the draw) I would want to be able to say that yes its all ok and not fret to much about it (which I would).

I have never put something through I haven't paid for nor have I inflated a price (hard to do anyway when you have the receipts) but I have been clever with what I have claimed for.

[Spangles]

I do mine accurately and honestly as couldn't live with myself if I didn't, I would feel so guilty as I don't think that's right.

Sometimes I think I'm a bit too honest for my own good but there you go!

Each to their own though I guess. Doesn't sound like it's huge amounts of money you are talking about.

[grindal]

Doesn't sound like it's huge amounts of money you are talking about.[/QUOTE]

No - its not. I don't really want to become known as the fraudulent crook of the forum. So far I have been 100% accurate to the point of calculating individual items like apples from a bag of 6. Just wondered if I was a bit OTT about it :rolleyes: and if others were a bit more relaxed about their figures.

[Spangles]

I see what you mean, personally I would work it out as accurately as possible but I'm sure not everyone else would.

[manjay]

I think there is accurate and accuratish (is that a real word?) and I am definitely on the side of the latter. Don't think Mr Taxman is going to throw you in jail and lock away the key over a box of tissues! Maybe they would go through the bin and work out whether it was a mindee or a member of my family who used it:D

[venus89]

Doesn't sound like it's huge amounts of money you are talking about.

No - its not. I don't really want to become known as the fraudulent crook of the forum. So far I have been 100% accurate to the point of calculating individual items like apples from a bag of 6. Just wondered if I was a bit OTT about it :rolleyes: and if others were a bit more relaxed about their figures.[/QUOTE]

I started off doing that then figured that I a) couldn't be bothered and b) life is just too short. I'd not claim for something I hadn't used and wouldn't overcharge but if it's a buy one get one free I figure that as I often forget to put things through ten I'm balancing it up a little. I shall join you as crook of the forum:laughing:

[Chatterbox Childcare]

I claim for everything the child has access to. I cannot tell when doing my accounts it they will chose the cheap or expensive yoghurt

[venus89]

I claim for everything the child has access to. I cannot tell when doing my accounts it they will chose the cheap or expensive yoghurt

So do you claim for both?! :laughing:
I claim for the food I provide, whether they eat it or not.
BUT I must admit that when it comes to food it's more of a rough guide - I worked it out accurately for ages then did an average figure for the cost of meals/snacks regardless of how much I actually spend. So soe weeks I'll spend more than I claim for and some less. Which is probably totally wrong and I'll probably get rapped around the knuckles for if they ever look at my accounts.

OMG I'm a right little criminal :panic: :blush:

[FizzysFriends]

Thank you both - FizzysFriends I am not asking about claiming for things I am not buying, more as venus89 has said - if things are buy one get one free - do you half the price of the item or use one for home and claim the full price. Like I said, I realise I am on dodgy ground and will offend some people so sorry :blush:

I didn't mean to say you where, but buying something for 25p and putting through £1.65 because thats what they cost at another shop is inflating your expenses and personally I think its wrong.

If its BOGOF thats different as thats not inflating anything.

[Mollymop]

I bought MY child a dressing up costume for a party it cost £30 and yes, I am naughty but I put it down on in my accounts - well the children do use it to play with now!
I also bought MY child a sand table - I knew all the other children would want to play with it so I put it down in my accounts.
When hubby started a new job he had to buy lots of stationary - I put that down in my accounts as well, just in case I ended up using some of his bits.

I get a bit fed up with having to pay tax on everything and then getting taxed some more, so I don't feel the least bit guilty!

[Blackhorse]

I haven't started mine yet but I am a bit worried about the accuracy in regards to food....I am not sure how I will be working the cost for this out yet...having said that I will try my best to be as accurate as possible...don't think anything can ever be 100%..
or toilet role...it is silly but I don't think I want to have loads of different roles in the loo...a family one and a cm one....as my dp would get mixed up anyways and so would the kids I guess...hope that makes sense

saying that, I have spoken to cm's (not on this forum) and they charge for all sorts of things..mileage when they didn't take the car, items under £10 that never existed...don't think that is right!

I think as long as you don't intentionally falsify (sp?) stuff it will be ok, even with the odd thing on it that wasn't for cm like a left over yoghurt on a friday that came in a multipack and you eat it yourself...and I guess there will be things you forget to put on or just gave to a child anyways...even if you didn't add it as expense...

[grindal]

Thanks for all the answers. I guess like most people I will end up doing my best to do my accounts to the best of my abilities.

Venus89 we can be criminals together - I am no longer doing accurate calculations of how much apple my mindee has eaten and how many yogs from a multi pack she has had and how much her half a bagel cost :panic:

I like your answer best though Mollymop!! :littleangel:

[charleyfarley]

I'm with Mollymop

If the mindees have use of anything I buy for my children then it goes through my books.

Sorry but I can't be bothered to work out the exact cost of food, its estimated for me.

Carol xx

[Curly Quavers]

I try to be a spot on as I can.

If I thought I would get away with it I wouldn't it's not because couldn't live with my self it's because I would be horrified if I were ever to be audited by the tax man.

[sweets]

I have a set amount each day per child for food, i can't be bothered to work it out exactly! its a rough amount, i admit its prob more than what it costs me to feed them but i don't claim for things like lollies or ingredients for baking. lifes to short to work out exact amounts of how much a child eats!
Sorry if this makes me terrible but when MP's can claim for thousands of pounds in expenses a 2 year olds food is bottom of the pile for the tax man.:blush:

[zillervalley]

Hi

I think I must have got it wrong all these years, i just take off a third of my total income
ziller

[venus89]

Hi

I think I must have got it wrong all these years, i just take off a third of my total income
ziller

I think that is probably wrong but woldn't life be SO much easier if we could do it like that?

[manjay]

Hi

I think I must have got it wrong all these years, i just take off a third of my total income
ziller

Oops! Do you not keep all your receipts then and work out what you have spent?

[ORKSIE]

I dont claim for anything I havnt purchased for a mindee to use.
My accounts are as accurate as they can be, I am not an accountant, but I dont cheat (and I'm not implying that any of you do either).:)

[sonia ann]

i keep my accounts as accurate as possible....keeping receipts etc and claimin for all childminded related stuff, however when it comes to loo rolls ,tissues, soap, wipes, squash, fruit , snacks etc all things that the rest of the family use as well....i just put through a set amount each week to cover these........every so often i review the amount depending on the no. of children i have per week/ hours they attend.....its a very rough science:) but i am not going to start counting apples out of the bowl or have separate loo rolls and tissues. at the end of the day i probably under estimate the amount any way:blush:

[Chatterbox Childcare]

Food is a large part of my expenses and I cannot work out when I buy it what the children will eat. They have access to everything in my cupboard so I work out a percentage of my food bill based on the number of children I have in the house per week. I buy cheaper and more expensive yoghurts and if the mindees eat the expensive ones and my children have the cheaper ones so be it, I do not claim more. If the mindees drop a bag of sugar I do not claim that either. It is all swings and roundabouts.

I used to charge by the meal but food prices fluctuate so much and I was losing out so on the advice of the IR I did the above.

Anyone claiming a blanket 1/3rd of their income is probably not claiming enough but the more you earn the less of a percentage you will claim back. i.e. £10000 per annum might have 50% expenses where by a £30000 would probably have closer to 30% expenses.

[MissTinkerbell]

I try to be as accurate as I can be - with my food bill I just tot it all up, divide it by how many of us I feed and then multiply by number of mindees - this figure then goes in my food column. I also include soap, toilet rolls, kitchen roll, etc because at the end of the day I am using 3 times as much of these things as I would be if not minding.

I actually don't claim for everything that I could do and have only just started to add the milelage for the food shop and shopping trips at the weekend if I am buying stuff for mindees.

I also put through stuff that I have bought for my own children because the mindees end up playing with them too so think its only fair.

[sonia ann]

I also put through stuff that I have bought for my own children because the mindees end up playing with them too so think its only fair.

i have done this in the past too....unfortunately my youngest is 14yrs now so not much that i buy him can go through my books:(

[DCS]

I guess im very fortunate, in that as I'm childless and live alone, I can pretty much get away with putting everything thru my books.

[Little Pumpkins]

my accounts are what i use

I just keep forgetting to do them lol

[wellybelly]

Mine are 100% accurate. I have a set amount for each child who attends which I put through for meals so thats the food cost's done, then from my shopping list I highlight things I purchase for childminding only e.g. toilet rolls, cleaning materials and craft accesories. I add this up and write the total at the top of the receipt. (It kills 2 birds with one stoneas I keep the receipt for food records too). All other items I have receipts for even the ones under £10 which NCMA say we dont actually need to produce receipts for.

I am a perfectionist and if my accounts were not accurate I would'nt be able to sleep at night! :panic:

[tigger]

Does everyone keep receipts for things under £10. I must admit I have just finished my accounts for the last tax year and didn't keep the receipts for the under £10 but did for the over £10. Even if you don't mind for the full 40 hours if you are doing things like paperwork, planning, cleaning the playroom, reading/researching and it takes you to 40+ hours I have said that I have been working and have claimed for the full % in gas/electric, rent, water is that the right thing to do? I often spend loads of my own time doing this and I'm trying to get to grips with obs, planning etc and trying to find a way that works for me that does not take forever, so I hope I can put this down legitimately.:panic:

[Gherkin]

I try to be as accurate as possible but have actually been thinking about this today and think I have not been putting enough through the books for food.

Last year about 1/3 of my gross was expenses.

[brightstar]

I haven't been claiming for cleaning stuff or loo rolls, tissues etc. looks like i'm going to have to go over this years accounts again. Don't want to give more to the taxman than I have to.

[venus89]

Does everyone keep receipts for things under £10. I must admit I have just finished my accounts for the last tax year and didn't keep the receipts for the under £10 but did for the over £10. Even if you don't mind for the full 40 hours if you are doing things like paperwork, planning, cleaning the playroom, reading/researching and it takes you to 40+ hours I have said that I have been working and have claimed for the full % in gas/electric, rent, water is that the right thing to do? I often spend loads of my own time doing this and I'm trying to get to grips with obs, planning etc and trying to find a way that works for me that does not take forever, so I hope I can put this down legitimately.:panic:

I'm afriad not - we're only meant to claim for the hours we're actually childminding and not the extra hours we do on top

[zillervalley]

I try to be as accurate as possible but have actually been thinking about this today and think I have not been putting enough through the books for food.

Last year about 1/3 of my gross was expenses.


thats what I take off but it seams that the forum advice seams to be that that is wrong

never kept reciepts for under £10.00, I know you have to keep food reciepts now

ziller

[atmkids]

I have a set amount each day per child for food, i can't be bothered to work it out exactly! its a rough amount, i admit its prob more than what it costs me to feed them but i don't claim for things like lollies or ingredients for baking. lifes to short to work out exact amounts of how much a child eats!
Sorry if this makes me terrible but when MP's can claim for thousands of pounds in expenses a 2 year olds food is bottom of the pile for the tax man.:blush:

That's what I do. I probably put through slightly more than the meal actually costs but then I don't claim separately for things like loo rolls, cleaning products and drinks. I told this to the man from IR when I went to a workshop and he said this was fine, we're not expected to work out every single item as we already do a demanding job. :jump for joy:

[The Juggler]

For food shopping, I worked out roughly what it costs per child per meal per day based on the cost of the food item and then how much of that they would eat, ignoring my own two children.

Then I just calculate a monthly amount based on that figure and put this through the books every month. My shopping doesn't vary that much. If I buy extra fruit etc during week I add that on to expenses, as I wouldn't have needed to buy more just for my own two kids.

I'm more strict about toys and resource buying, although I love the buy back I found out about on here, and this year have 'bought back' lots of my kids toys this year that I've been using for childminding for nearly 5 years.