Hi I was just wondering if any one used an accountant? And if so do they specialise in childminders books and how much do they charge?
I do I could o the books myself but I simply don't have the time and worried about not getting it right.
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Hi I was just wondering if any one used an accountant? And if so do they specialise in childminders books and how much do they charge?
I do I could o the books myself but I simply don't have the time and worried about not getting it right.
In my case it is so simple I do it myself- just use the NCMA accounts book and fill it in each week, keep receipts, it shows you how to work out the totals and then you just put that on your tax form. There are plenty of accountants advertising in NCMA mag but unless you have a more complex situation (maybe paying an assistant? or working with another childminder so big ££££ income?) I cannot see why you need one. Even if you hire an accountant you still have to collect the info to give the accountant- accountant will need your income/invoices and outgoings/receipts sorted out anyway. The HRMC will tell you how to claim expenses such as mileage and the NCMA book (and HRMC) explain about claiming utility bills as a %.
Thank you muggy - I do have a full time assistant that works with me and I have recently converted my garage into my playroom and brought a 7 seater car for cm purposes so need to talk to someone about what I can claim for. Will have a look at the ncma mag thank you
I had to get an accountant as I was applying for a mortgage and needed my books signed off.
I was so impressed with him that he is doing my accounts permanently, when I did them with the mm account books I wasn't earning much because I spent so much on "expences" but he has done it a different way that has my earnings much higher because he said my expenses were things like food that I had to spend to run my business and other things like equipment and toys were called something else ( I can't remember)
I don't understand it all really and others will be along that could explain it better. I used to think I didn't need an accountant as I could do my own but the way I did mine I couldn't get a mortgage but the way he did them I can and iv still not had to pay any tax. I'm happy :thumbsup: