childminding accounts

[trace1962]

Hi everyone.

I am a childminder, and I was wondering if anyone out there can give me some advice regarding my accounts. I have recently had a conservatory/playroom built, and I would like to know how much of the cost of this (what percentage) can I put through my accounts book. Im hoping its atleast 50%.
Also same advice with a laptop I have just purchased - I also use this for childminding purposes.
Thanks in advance.

[aly]

if you do this and claim then when it comes to selling your house you will be liable for capital gains.....
debbie will be along shortly to explain futher..

x

[tashaleee]

Sorry you are not going to like this but I asked the same last summer... and was told I couldnt put any of the cost of building it through - obviously some of the interior things I could as they were specifically to make the room safe for minding....

[MaryMary]

I have asked HMRC the same question and they say as it is an improvement to your home, it is not an allowable expense :( sorry!

The laptop is ok. That is put through as AIA (annual investment allowance) on your tax return, as opposed to an expense (still results in reducing your net profit, so therefore reduces tax liability)

[MrAnchovy]

Actually it doesn't matter whether it is an improvement to your home or not, capital expenditure (as opposed to maintenance) on land and buildings is not a allowable expense nor is there any Annual Investment Allowance or any other capital allowance available (except for special situations such as agricultural buildings, conversion flats over shops etc.)

You may be able to claim for part of the cost that relates to safety equipment that you would normally be allowed to claim for anyway, for example smoke detectors. If there is any doubt, consult an accountant or a consultant specialised in capital allowances.

[MrAnchovy]

For the laptop, if this is not used exclusively for childminding remember to only claim the appropriate percentage.

[Chatterbox Childcare]

As you purchased the laptop just for childminding - claim it all

Nothing for the extension but you can look at the interior - if you purchase shelving and it is for childminding then yes but anything your family will use no

[trace1962]

A very big THANKYOU to everyone that replied to my thread with information. It is a bit disappointing not to be able to claim for the conservatory as it was actually built for minding purposes, as my home seems to be taken over my childminding equipment etc. My partner got so fed up with drawers, cupboards, under stairs, porch etc been filled that he actually built it for me, and believe it or not my cupboards etc are still full of clothes, reins, coats bottles, folders for paperwork etc.!!!

[Chatterbox Childcare]

A very big THANKYOU to everyone that replied to my thread with information. It is a bit disappointing not to be able to claim for the conservatory as it was actually built for minding purposes, as my home seems to be taken over my childminding equipment etc. My partner got so fed up with drawers, cupboards, under stairs, porch etc been filled that he actually built it for me, and believe it or not my cupboards etc are still full of clothes, reins, coats bottles, folders for paperwork etc.!!!

I like others believe you without question :laughing: of course our cupboards are all folder free - yeah right :D

[rickysmiths]

A very big THANKYOU to everyone that replied to my thread with information. It is a bit disappointing not to be able to claim for the conservatory as it was actually built for minding purposes, as my home seems to be taken over my childminding equipment etc. My partner got so fed up with drawers, cupboards, under stairs, porch etc been filled that he actually built it for me, and believe it or not my cupboards etc are still full of clothes, reins, coats bottles, folders for paperwork etc.!!!

Even if it has been built for cm use now it will add value to your property in the long run and be a good selling point. Hopefully the value of your house will increase and will return you outlay + when you sell.