Receipts, books and computers

[SamBaker]

Evening all!

I need some advice again this week lol! I have been collecting receipts over the past couple of months and was wondering if and how I can put them through my books. All are these are for my business, I have also just bought a new computer that I will mainly use for business, can I put this through as well?

Big thank you for all your help again

xxx

[Pipsqueak]

If its for your business and childminding related then yes it goes through your books.
When you do your accounts (weekly, monthly??? or in my case annually lol) then you write it up on the accounts sheets in the relavant month. So keep all your receipts and if you don;t have one ie for under a tenner then make sure you note it in your diary for instance.

Re the computer - then yes if you are going to soley use it for minding purposes and you are not using it for anything else then you can put the full amount through - if you wil be using it for other things then you will need to work out the percentage proportion of usage and spilt the amount accordingly.

Hope that helps - if not you need our resident accounts lady Debbie

[SamBaker]

Thank you Pipsqueak, it's all a bit confusing still lol and I've done a book keeping course! No hope for me lol!

xxx

[miffy]

You'll get used to it Sam. Basically if you've bought something to be used wholly for the business then put the whole amount through as an expense.

In the free downloads section (under free resources at top of forum page) there are two documents about tax - one from Inland Revenue, latest guidance for childminders and one written by Sarah707 and DebbieS26 about claiming expenses - you might find these useful.

Miffy xx

[Chatterbox Childcare]

Have a look at the IR website as the computer will go down as an asset and claimed over a couple of year (up to £500)

[SamBaker]

Thank you Miffy, here to my rescue again lol! Do you live near me, can you be my support childminder lol!

Thank you Debbie, I will go and have a look.

xxx