Good morning everyone. I was under the impression that we could not claim anything on our mortgage but on my account records from morton Michel there is a box for rent/mortgage interest claim. Can anyone set me straight on this please? ☺
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Good morning everyone. I was under the impression that we could not claim anything on our mortgage but on my account records from morton Michel there is a box for rent/mortgage interest claim. Can anyone set me straight on this please? ☺
Rent is different to mortgage and you can claim a proportion of your rent against tax. I am sure Mr Anchovy will come on and explain in full but I think you can try and work out how many hours your property is used solely for childminding and work out the proportion of the interest only not the capital repayment.
Not sure Mr A's here anymore :(Quote:
Originally Posted by VeggieSausage
Hasn't been logged in since April last year
He did have a website though if you google his name I'm sure something will show up
Chatterbox put info on claims including mortgages up the other day http://www.childmindinghelp.co.uk/fo...n-i-claim.html on this thread - What things are business expenses? cont'd is the page relevant to mortgages
I claim "actual expenses" in my setting working out each room in the house, how much it is used 100% for minding (no children of my own at all) and this percentage is allocated to all my household expenses. You cannot claim this way and the Pacey negotiated percentages
I worked my spreadsheet calculations with an accountant and would advise anyone claiming mortgage interested to employ one themselves because if you have to go to court could you justify the workings and claim yourself?
On this one I would refer your queries to an accountant...get their professional advice :thumbsup:Quote:
Originally Posted by Emmalou77