Massive Thankyou

[sandy]

Hi, to you all.

I've been avidly reading all the tax return threads with great interest. Just joined so I can thank you all for the great advice.

I've just paid a £2,300 tax bill and it really hurt !!! After reading the forum I,ve contacted the tax office and arranged to re-submit my return as there is sooo much I haven't claimed for.
That is my job for this morning and I hope to get a large rebate !!

I'll let you know how I get on , and THANKS again x x x x x x

[Angela234]

[SIZE="4"]God how much have you earn't! [/SIZE]

The most tax i have paid is £105

Hope you get it right down good luck

Angela

[sarah707]

Fingers crossed!

I have just stuck a thread to the top of this section that might help you!

[sandy]

Thanks sarahnev707.
Im new to this , where do I find this thread.
By the way, earnt about £12000 so would welcome any more advice on how to reduce profit !!!

[sarah707]

Here it is!

http://www.childmindinghelp.co.uk/fo...ead.php?t=2734

You should be able to lose about 2/3rds... and the tax threshold is just over £5k... so you should not pay tax!!

Keep hacking away! And don't forget, you only need receipts for over £10 spend!!

[Trouble]

my god thats a lot of tax, the girls on here will sort you out ive only done 1 tax return so im not in a position to help but hello and welcome anyway

[jaz]

Wow that amount does sound scary! Hope you get it sorted out and get some money back.

[miffy]

That was a whopping tax bill!

If you look at the thread about deductions you should be able to shave a lot off that - hopefully so you pay no tax at all

If you are having difficulty sorting it out yourself I'd be tempted to get an accountant to look at it - there are several places that advertise & deal with childminders - you could recoup the cost in saved tax

Good luck with it

Miffy xx

[manjay]

Thanks sarahnev707.
Im new to this , where do I find this thread.
By the way, earnt about £12000 so would welcome any more advice on how to reduce profit !!!

Wow, going by the losing 2/3rds of your income guidelines that would mean you have a turnover of £36k!!!

I would definitely rework those figures and I am pleased the HMRC have allowed you to do so.

Good luck
amanda xx

[tulip0803]

I was lucky when I did my ICP way back in 2001 my tutor put great emphasis on our accounts and made sure we knew exactly what we should be claiming for. Thank you Ann. Even so looking at the new list I haven't claimed for a lot of things.

[sandy]

Hi everyone

Thanks so much for all your replies, especially sarah. You are a godsend !
Have so far shaved nearly £4,000 of profits. Well happy with that. I had no idea I could claim on so much stuff.
Will re-submit my figures tomorrow and hopefully wait for some good news.

Thankyou, Thankyou, Thankyou to all you lovely ladies x x

[sarah707]

You're welcome! Glad I could help... keep going though, you can always find something else!

So long as you can justify spending it, try to get it as close to or below that magic £5.4k mark!

[sandy]

Hi again,
Just finished now. Have got net profit down to £5,600 ish and am happy with that.
10% wear and tear made huge difference. Was never sure what that meant before and this is the 3rd tax return I've done !! Oh well, you live and learn.

Cheers, you are an angel

[angeldelight]

Good luck with that

Angel xx

[sarah32]

Theres alot of things on the list I dont claim and didnt know you could.

what would the percentage you could claim for the following:-

Broadband
house Insurance
Mobile phone
RAC Memebership
Telephone
Mobile
Tv licence

Food - Im really confused on this one, I only have a 10 month at moment and I just claim for his yoghurts and crips but i do make his lunch for him. My fee includes snacks and breakfast and lunch. Would i charge so much per breakfast and lunch. Would the tax man say let me put down a £1.00 for breakfast and £1.00 for lunch and then just put down when I buy him yoghurts and crisps. I have 2 more kids starting in a week and im going to be supplying alot more food so a bit worried i havent been claiming enough.

Please can someone give me idea what they do???????????

sarah

[Trouble]

Theres alot of things on the list I dont claim and didnt know you could.

what would the percentage you could claim for the following:-

Broadband
house Insurance
Mobile phone
RAC Memebership
Telephone
Mobile
Tv licence

Food - Im really confused on this one, I only have a 10 month at moment and I just claim for his yoghurts and crips but i do make his lunch for him. My fee includes snacks and breakfast and lunch. Would i charge so much per breakfast and lunch. Would the tax man say let me put down a £1.00 for breakfast and £1.00 for lunch and then just put down when I buy him yoghurts and crisps. I have 2 more kids starting in a week and im going to be supplying alot more food so a bit worried i havent been claiming enough.

Please can someone give me idea what they do???????????

sarah

what about milk, nappies, wipes, cleaning things ie dettox, etc

[deeb66]

Hi again,
Just finished now. Have got net profit down to £5,600 ish and am happy with that.
10% wear and tear made huge difference. Was never sure what that meant before and this is the 3rd tax return I've done !! Oh well, you live and learn.

Cheers, you are an angel

Glad you have got it sorted Sandy

[deeb66]

Theres alot of things on the list I dont claim and didnt know you could.

what would the percentage you could claim for the following:-

Broadband
house Insurance
Mobile phone
RAC Memebership
Telephone
Mobile
Tv licence

Food - Im really confused on this one, I only have a 10 month at moment and I just claim for his yoghurts and crips but i do make his lunch for him. My fee includes snacks and breakfast and lunch. Would i charge so much per breakfast and lunch. Would the tax man say let me put down a £1.00 for breakfast and £1.00 for lunch and then just put down when I buy him yoghurts and crisps. I have 2 more kids starting in a week and im going to be supplying alot more food so a bit worried i havent been claiming enough.

Please can someone give me idea what they do???????????

sarah

You need to be careful when trying to claim for these sort of items and they can only be claimed for if they were used solely for childminding....so if you claimed tv licence that means you are not allowed to watch tv when the children are not in the house iyswim.

You could claim the extra on your car insurance that you have to pay to bump it from personal use to business insurance. I also claim a percentage of my mobile as this is the phone that I make all my childminding calls from and mainly use as a business line. I am on contract and pay a set amount each month and I claim 50% of that.

I do not claim any of the other items you have mentioned.

Claiming food - every person does it differently. I know some only do an exclusive shop for what the minded children would eat and therefore use that receipt. I personally cannot be hassled with that and all food in the house can be eaten by anyone including minded children.

Also we all eat the same...I do not cook different foods for the minded children...they sit and eat with us as a family.... so again I claim a percentage of the bill depending on how many children I have and the amount of meals that I feed them.

Providing it is reasonable the taxman will accept what you want to claim for food. If you feel that £1.00 per meal is sufficient plus the odd extra than it will be ok to claim it.

[Cammie Doodle]

I agree I was told you cant deduct TV , broadband etc unless these were solely for minding purposes. And can only deduct the cost of the actual calls, but who knows I may have been miss informed