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Post by stacie1985 on Aug 19, 2007 19:39:22 GMT
Hello all im new to childminding and have just recently starting inputting my accounts and i would like a list of what i can claim for i have no info apart from the bits in the account book for ncma like gas elec etc but i just want to know what i can claim for and is there anything you cant claim for. like for example i have just brought a rabbit and want to know if i can claim for the food and bedding etc coz main reason i brought is bcoz i have no pets and wanted one for minding for the children. and i have a child myself so how do i go about claiming for toys etc: how do you prove they arent soley for your own child any help would be appreicated x
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Post by mel on Aug 19, 2007 21:12:34 GMT
Not sure about the rabbit, but any toys or craft materials that will be used by the minded children and your son will count. You can also count any stationery purchased, a percentage of printer cartridge costs (dependent on how much you use).
Mel x
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Post by stacie1985 on Aug 20, 2007 7:17:49 GMT
How do you work out printer cartridge etc: as the last two i have brought i have used only for childminding but im thinking once i got all my customers for the time being paper work will be cut down for a while so any help on how i work this out would be good ta x
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Post by sarahnev707 on Aug 20, 2007 14:54:20 GMT
If you've got the NCMA percentages, use those for your bills Everything else you buy for minding - get the receipt and put it through. If a minded child will use your child's toys, then personally I would claim them If you feel you can justify it, then claim it - you should be able to lose up to 2/3 of your income over the year to claimable expenses before anyone starts to look too closely Not sure about the rabbit! Sarahx
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Post by manjay on Aug 20, 2007 15:26:05 GMT
Accountant said to me if you buy something that you wouldn't have bought unless you were a childminder you can claim for it. So i suppose if the answer to this is yes I would go ahead and claim for the rabbit!
Amanda xx
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Post by jules on Aug 20, 2007 15:42:39 GMT
Sarah, I'd love to know how you manage to lose about 2/3 of your income over the year to claimable expenses. I can't even manage to lose 1/2!!
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Post by tasha on Aug 20, 2007 16:33:47 GMT
I would also claim for the rabbit & any expenses that go with! I also lose 1/2 / 2/3s of income! But then I am careful to put everything that should go through in my accounts book - it's amazing how it all adds up! Think one of my biggest expenses is my printer cartridgea actually!!! I use my printer solely for childminding, so claim the whole cost. Tasha
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Post by mel on Aug 20, 2007 17:36:30 GMT
Stacie - on this occasion I would claim the whole printer cartridge if you have used it just for minding paperwork. Just keep your receipts and try and keep on top of the accounts as it all mounts up and you sound like you are going to be busy!
Mel x
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Post by sarahnev707 on Aug 20, 2007 19:52:24 GMT
Jules - remind me we need to chat before next April!
Sarahx
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Post by jules on Aug 20, 2007 20:39:22 GMT
I'll pm you Sarah. Thanks Jules
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Post by susi513 on Aug 21, 2007 8:20:52 GMT
The NCMA Members Handbook 07/08 says you shouldn't claim for cost of pets and petcare. I would think thats because most pet purchases are for the family and not for the business.
Schools have pets - eg our reception class had ducklings one year so I don't see why childminders can't buy pets as well. Great way to introduce a number of topics - hygiene, caring for others etc..
However, its difficult to prove that you wouldn't have bought the rabbit if you weren't childminding - if you gave up childminding would you sell it?
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Post by mel on Aug 23, 2007 7:42:50 GMT
As long as everything looks in order and you don't claim excessive expenses, you are unlikely to flag your self up to the tax bods. I think having read the other posts that you should put it through as an expense and just make sure you do keep all receipts!
Mel x
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Post by stacie1985 on Aug 23, 2007 10:17:56 GMT
thanks for all the help guys really appreciate it x
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Post by emmamarie on Aug 28, 2007 11:38:02 GMT
I'm new to all of this and was just wondering when and where I get more information on managing my accounts etc from? I have only just had my pre-registration visit and so have had no contact from NCMA yet and have also not been on the ICP course. (this is booked for October) Any advice would be brill
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Post by lorri on Aug 28, 2007 12:46:18 GMT
Hi Emma
You will get loads of information and forms etc with your NCMA tool kit. There's everything you need to know in there really.
I think you also learn about it on the ICP - I've not started that yet so can't be sure.
I'm sure other people will have more to tell you.
Lorri x
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Post by mel on Aug 28, 2007 16:40:49 GMT
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Post by lorri on Aug 28, 2007 17:10:03 GMT
That's really useful, thanks Mel.
I've never seen that before.
Lorri x
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Post by emmamarie on Aug 29, 2007 7:55:58 GMT
Thanks Mel and Lorri...all this business and accounts side of things is seeming quite scary at the moment!!! No doubt it will all become clear soon enough x
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Post by andreaschildcare on Aug 30, 2007 17:24:22 GMT
hiya sorry havnt read the whole thread so sorry if you have had this info already. If you go to the inland revenue site there is a list of whats tax deductable. Pets are not. we have 2 cats and 5 rabbits and cant put any of it through. i put through set meal amounts. cleaning stuff toys obviously admin stuff ie paper, print cartridges etc ANYTHING and everything i do and use whilst childminding! Half of what I earn pretty much goes in claims
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Post by jules on Aug 31, 2007 11:41:55 GMT
Youngest mindee has hidden remote and can't find it anywhere. He does have a habit of putting things in the bin, so it may have gone with the dustmen by now.
We have searched the whole house from top to bottom for it.
Do you reckon I could put a new one down as expenses? Jules
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Post by mrsv8only on Aug 31, 2007 12:08:35 GMT
I can't see why you cant, If you weren't minding at the time then you wouldn't need a new one so i would go for it !
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