View Full Version : Things that we do/buy that we wouldn't if we weren't childminding...
How do we work out what things to include and not? I have just always done things like toys, stationary, bus/train fares then work out food and mileage.
But what about big things? I live in a flat so will never have an extension or decking etc but just wondering cos as some point I would like to live in a house and have the possibilty of doing these. And what about cars? My car is too small and I am hoping to get a people carrier. I am pretty sure we can't claim for any of these types of things however I want to make sure I don't miss out on things I could claim for IYSWIM? And why can't we claim for these things? Is it because you can't really prove that you wouldn't have bought them if you hadn't been childminding?
Carol M
21-01-2012, 07:06 PM
There are different ways to claim allowances for cars but you can not claim allowances for extensions of your property,even as you say, you only had them as you are childminding.You could claim allowances for things to go inside tho e.g furniture for the children or storage for toys.
Carol xx
So... with the car claims, at the moment I just work out the mileage based on the pence per mile as allowed each tax year. If I was to get a bigger car, do I carry on doing the same or can I claim a percentage of the purchase price too? We have literally just got my car sorted so we can part exchange a people carrier - would be a bonus if I can put some of it through my accounts, but I am not expecting too, just thought I would run it passed the experts! ;)
Carol M
22-01-2012, 11:43 AM
If you buy a new car for childminding purposes you can claim the depreciation at the % used for minding also claim the same % for petrol, servicing, interest on loan,tax etc.
OR
continue claiming the milage.
You can not switch from one to the other whilst you have the car.
All details are on the HMRC website, I found it a bit tricky at first to do the depreciation but as I now have all the figures it was quite painless.
I'm no expert tho , chatterbox childcare and Mr Anchovy are the best ones to answer your questions or ring the HMRC tax helpline ( don't do it now tho as you will be waiting hours for them to answer your call!!)
Carol xx
If you buy a new car for childminding purposes you can claim the depreciation at the % used for minding also claim the same % for petrol, servicing, interest on loan,tax etc.
OR
continue claiming the milage.
You can not switch from one to the other whilst you have the car.
All details are on the HMRC website, I found it a bit tricky at first to do the depreciation but as I now have all the figures it was quite painless.
I'm no expert tho , chatterbox childcare and Mr Anchovy are the best ones to answer your questions or ring the HMRC tax helpline ( don't do it now tho as you will be waiting hours for them to answer your call!!)
Carol xx
Thank you I will have a look.
Chatterbox Childcare
23-01-2012, 01:23 PM
It is easy as Carol says once you get the hang of it. It is not worth doing the depreciation if you have a low business percentage or low cost car.
What I advise you to do it you change you car is to keep a mileage log, needed to both ways anyway, and calculate your business mileage at the end of the year and then calculate .45p and see what is best for you
Whatever you do has to be continued for the life of the car with your business
It is easy as Carol says once you get the hang of it. It is not worth doing the depreciation if you have a low business percentage or low cost car.
What I advise you to do it you change you car is to keep a mileage log, needed to both ways anyway, and calculate your business mileage at the end of the year and then calculate .45p and see what is best for you
Whatever you do has to be continued for the life of the car with your business
I don't suppose I can be a pain and ask you to put a link on to where i should be looking on HMRC as i can't find anything - must be typing in the wrong things to search for. :blush:
Chatterbox Childcare
23-01-2012, 11:36 PM
off to bed now but look up capital depreciation and it should come up with it, if not pm me and I will search tomorrow