What should be recorded under Annual Investment Allowance rather than Expenses?

[loocyloo]

Well, a lot of parents seem to think we're raking it in......

my own mother seems to think I am earning a fortune !!! I was explaining to her that I had had to explain to DD that I really couldn't take the day off to accompany her school band to a competition ( but I am planning on going to listen with the LOs ) as I would lose £150 for the days work ( its my busiest and longest day ) and I really couldn't afford to. ( DD fine with it ) and mum kept going on about how much I must earn ... so I did the 'pointing out that I then pay tax on it and pay for all my resources, gas/electric/water, food etc' and she still kept on about how much I earn! you know when you think 'why did I start this conversation?' !!!


but I'm glad to read that as I use the 'cash basis' I can carry on with my expenses as they are! I was getting rather confused reading everything else!

[Simona]

Yes...and that is why I suggested getting professional advice if unsure or Cms can get confused.
hopefully this is now cleared.
I have my accounts done by an accountant and every year I declare any equipment above a certain amount...so far no issues and have done so for 22 years.

We are offering suggestions here and support but we are not qualified accountants...the same accountants are not qualified to understand the ins and outs of EYFS, regulation and legislation that bind us all...each has his/her own field of expertise!

On the subject of parents thinking we are 'raking it in'...I do feel parents have no right to make such assumptions in the same way we do not assume what their earnings are...if Cms do earn a lot so what is the problem if they are working hard to earn their money?

it is a question of mutual respect in my view !