Tax deductions

**anneriddington** · 19-02-2008, 12:38 PM

Yes I use it to go to and from playgroup and then on outings

**Little Pumpkins** · 02-03-2008, 05:44 PM

hi so is it 10% a month for everything on that list?

sorry confused

you know for home ins, int etc

also how do I put down all my set up costs? for tax sorry very lost

**bex4adz** · 02-03-2008, 07:37 PM

Hi can i claim for travel expenses via bus as I don't drive.

**sarah707** · 02-03-2008, 07:41 PM

Just to clarify - you can claim for anything you use as a business expense. For example, if you do not use Sky TV for your mindees, then you cannot claim it... if you go on the bus with your mindees then you should claim for the bus fare.

The theory is - if you are ever questioned by the tax office, you have to be able to justify your figures. It is not worth lying about them... but equally if you spend the money, then you can claim it back.

Pauline's link should help with the question about %ages -

http://www.hmrc.gov.uk/manuals/bimmanual/bim52751.htm

**LittleMissSparkles** · 02-03-2008, 07:58 PM

Sarah that is a fabulous list many thanks for the time you have taken to do it xxx

**ChocolateChip** · 02-03-2008, 11:58 PM

I agree Susan, Sarah has done a brilliant job!

Just wondering when you work out your working hours to claim the percentages, do you only include actual minding hours or can you log time you've spent doing paperwork aswell?
Nikki.

**sarah707** · 03-03-2008, 07:51 AM

Originally Posted by Nikki

I agree Susan, Sarah has done a brilliant job!

Just wondering when you work out your working hours to claim the percentages, do you only include actual minding hours or can you log time you've spent doing paperwork aswell?
Nikki.

My understanding is that you use your working hours as those are what your income refers to...

**disney** · 07-03-2008, 12:45 PM

does any one no if you can claim tax deduction on items that you first get to set up ,even if you have had a start up grant for them

not sure x

**berkschick** · 07-03-2008, 01:20 PM

I think you can but you have to add the grant as income so not much point!

**disney** · 08-03-2008, 09:14 AM

yer sorry debbie not thinking straight really tired , only started childminding in sept and its great but the accounts is some thing i have never done before . and im on tender hooks as my ofsted inspection was due in jan & thet still havnt been yet

x

**disney** · 08-03-2008, 09:39 AM

im confussed now my childminder friend as just told me that you dont use a start up grant as part of your earring if you get it before you start minding , i got mine in july and spent it but didnt start minding untill sept .

so do i not count it then

she said it states this in the tax link x

**berkschick** · 08-03-2008, 09:41 AM

But you cant then put the items you purchase with your grant through your books because they came out of the grant and not your pocket iyswim.

**disney** · 08-03-2008, 10:20 AM

yer got ya ok thanks it all works out the same in the end any way , sorry stupid question . still nice chatting

x

**sarah707** · 08-03-2008, 11:43 AM

Originally Posted by disney

yer got ya ok thanks it all works out the same in the end any way , sorry stupid question . still nice chatting

x

NO questions are ever stupid! If we don't ask (and I ask my fair share too) then we will never know!

That's what we're here for... somebody usually knows....

Glad it's sorted now!

**disney** · 08-03-2008, 12:47 PM

Thanks sarah , spent so much time settling in my new children and trying to settle into this very different job ( working on my own ) that i need to start sorting these accounts out ,thought the policies were bad but at least they are all done now

x

**RedDragon** · 20-03-2008, 05:12 PM

I didn't earn a lot last year before expenses were taken out - by the time expenses were taken out I barely had any left - in fact, if I was honest and took out what I actually spent I don't think I made anything at all! lol

The reason for this is a lot of the toys/equipment I use in my childminding setting my own children actually use - plus any trips I take the minded children on I could actually add on myself and my children onto the bill as expenses (farm etc).

SO, the question I would like to ask is how much are we actually allowed to take off in expenses.

This year I am working more hours so wages will go up but I know I spend at least 2/3 rds of that on expenses - is that considered ok, am I allowed to take off more as long as it is justified (i.e. I keep all receipts etc).

Thanks for any help.

**sarah707** · 20-03-2008, 06:09 PM

If you can justify the expense, then take it off...

My understanding from various tax courses over the years is that they expect us to lose about 2/3 to expenses...

Hope that helps

**RedDragon** · 20-03-2008, 06:17 PM

Yes, it does help, thank you.

I buy so much stuff, I feed them (organic mainly), we go on lots of outings.

If I saved every single receipt (the only thing I can't get receipts for is the fruit + veg shop) I bet my expenses would virtually match my wages at the end of the tax year.

The reason I ask is because I receive WFTC and want to be confident that I am not doing anything wrong (I worry a lot).