The tax lady said - Mortgatge Interest

[Chatterbox Childcare]

If you home is at any time being used exclusively for, in full or part, childminding and you do not have any children of your own there or relatives/friends of unpaid children then you can claim working on a percentage

Note that this is my understanding only but there is an example in the HM Revenue and Customs leaflet printed in May 2012 called "Childminders Information about Tax and NI"

This may rule out a lot of people but I use my house from 8-4 5 days a week when my children are in bed so I am looking at claiming

[littletreasures]

My children are 17, 19 and 22,so not really children anymore.

So I should be able to claim then.

[TheBTeam]

I use my house from 9-3 when my children are at school, so can i claim a percentage of the house which is all but two bedrooms and for 39 weeks of the year?

[Chatterbox Childcare]

My children are 17, 19 and 22,so not really children anymore.

So I should be able to claim then.

This is my understanding of the rule as these are the details in the example I was given. I will try and find the link to the paperwork tomorrow and post

[Chatterbox Childcare]

I use my house from 9-3 when my children are at school, so can i claim a percentage of the house which is all but two bedrooms and for 39 weeks of the year?

This was my understanding - run it by your accountant or the HMRC

[TheBTeam]

This was my understanding - run it by your accountant or the HMRC

Just tried a quick look for the HMRC info, couldnt find it as yet, but i guess on a silver wedding anniversary i should have other things to do!

[Kiddleywinks]

Nawty nawty BTeam lol

oh, and congratulations on your wedding anniversary lol

Chrissie x

[aly]

If you home is at any time being used exclusively for, in full or part, childminding and you do not have any children of your own there or relatives/friends of unpaid children then you can claim working on a percentage

Note that this is my understanding only but there is an example in the HM Revenue and Customs leaflet printed in May 2012 called "Childminders Information about Tax and NI"

This may rule out a lot of people but I use my house from 8-4 5 days a week when my children are in bed so I am looking at claiming

Ok, so If my daughter is in school 9-11.30 thats the only time I can claim?

[anncs]

I just had a look but couldnt find anything yet, but im going to give them a call....thats defo worth looking into Ann x

[Chatterbox Childcare]

Ok, so If my daughter is in school 9-11.30 thats the only time I can claim?

Yes - that is my understanding but talk to the HMRC for clarification in your own circumstances

[aly]

Yes - that is my understanding but talk to the HMRC for clarification in your own circumstances

probably pointless really but will check...just 1 thing though howw would you work out the percentage for say 2.5 hours?

x
P.s found anoutehr sainsbury voucher it's only 1 do you want it?

[MrAnchovy]

The examples are here, but you really need to read the whole section which starts here to understand the examples.

The one thing that you won't find any mention of there is childminding and the particular quirk of childminding that you can working in your self employed job while looking after your own children in the home: this does not count as exclusive use.

Bear in mind that a claim for use of any part of your house exclusively for childminding all of the time is likely to attract interest from HMRC in any capital gain you make on sale, so there should always be some private use of every room.

[Chatterbox Childcare]

The examples are here, but you really need to read the whole section which starts here to understand the examples.

The one thing that you won't find any mention of there is childminding and the particular quirk of childminding that you can working in your self employed job while looking after your own children in the home: this does not count as exclusive use.

Bear in mind that a claim for use of any part of your house exclusively for childminding all of the time is likely to attract interest from HMRC in any capital gain you make on sale, so there should always be some private use of every room.

Mr A is this not what I wrote?

[MrAnchovy]

Mr A is this not what I wrote?

Yes absolutely, I just wanted to say it again because it isn't in the HMRC stuff I was linking to.

[WibbleWobble]

so...am i right in saying that as i dont look after any of my own children (DD is 19) i can claim mortgage interest for the hours i work?

if so how is it worked out

i work a 55hour week. my mortgage is £370 a month....dont know how much of that is interest though.

how do i work it out?

mandy xxxxx

[rose hol]

WOW!! I would also be very interested in this. I also work aprox 50 hrs, and mortgage is just over £400. My child starts school this September, so can i claim a percentage??? Keep us posted.

[jayjay1963]

Need to look into this, my mortgage interest is nearly £200 a month alone!

Jacqui

[Chatterbox Childcare]

probably pointless really but will check...just 1 thing though howw would you work out the percentage for say 2.5 hours?

x
P.s found anoutehr sainsbury voucher it's only 1 do you want it?

Vouchers are all in now - thank you but no

[Chatterbox Childcare]

so...am i right in saying that as i dont look after any of my own children (DD is 19) i can claim mortgage interest for the hours i work?

if so how is it worked out

i work a 55hour week. my mortgage is £370 a month....dont know how much of that is interest though.

how do i work it out?

mandy xxxxx

I am going to ring and ask again on clarification of exclusive use as mine are 15 and 19 although I employ my 15 year old after school so I think she is staff and not child

My understanding is that I start work at 7 and finish at 6 so I have 11 x 5 days of business hours = 55 hours per week. Multiply 24 x 7 = 168 so my personal use is 113 hours per week and 55 working

I am taking my INTEREST part of my mortgage only for the year and dividing by 8400 (50 weeks x 168 hours) and then multiply by 2750 (50 weeks x 55 hours) then how many rooms do I use during the business time. Take the total figure calculated and divide by number of rooms in the house (do not include kitchen and bathrooms) giving you a price per room and then multiply this by the number of rooms used for businees

An example of this is £800 per month mortgage - 55 hours per week - 8 rooms

£800 x 12 = £9600 divided by 8400 = £1.14 multiply by 2750 = £3142.86

Someone will correct me if I am wrong.

Will write a spreadsheet to calculate it all soon (just need to put in your own hours and mortgage costs to calculate everything) - if anyone wants a copy then please pm me your email address and I will send it once done

[rose hol]

OMG DEBBIE, THATS AMAZING!!!! Can i h ave one please. xxxxx