advice :)

[adele1985]

Hi everyone just woundering if anyone can give me any advice

Do you have to have a bank account to do a tax return

At the moment nost of my parents pay cash and to be honest most if not all of it goes to pay my house hold bills (business is very slow at the moment)

I keep all the recipts related to childminding ie for food,equipment ect

Everytime I get a recipt I add it to my yearly accounts spreadsheet and then file it away

Will this be enough to do my tax return next year with out having a bank account just for childminding as i put all the money i get from childminding into my personal account then its used for bills ect

I hope that makes sense

[green puppy]

I don't have a separate account for childminding, all of my parents pay by vouchers and bank transfers. As long as you are keeping a written record of your income from childminding and have receipts to confirm your expenses then that's all you need. You just need to make sure that income received matches the hours on children's attendance sheets as these could be looked at if you were ever investigated.

[AliceK]

Hi
Yes that sounds fine. I don't have a seperate bank account for childminding. Some people do but it's not compulsary.

xxx

[Tealady]

As long as you can show what's been received with Invoices and receipts for monies received and what has been paid out with bills, receipts and mileage log, that's fine.

[adele1985]

My plan is to go into the bank and ask for all my statements from may (when i started doing childminding on my own) then im going to through them and highlight all the money i have recieved from childminding also going to highlight (in a diffrent colour) anything i have bought for childminding from my bank

does this sound good???

Sounds like alot of work to me lol but at least ill feel organised for the new year