Help needed with gas/elect deductions...desperate!

[bubbly]

My monthly gas & elect. direct debit is £85, which works out at £19.61 week (i.e. £85 x 12 divided by 52). 33% of £19.61 is £6.47. So I get to deduct £6.47 a week. I have no problem understanding that part.

The problem is this: I'm expecting my direct debit to increase once I begin childminding in Dec. When the monthly bill increases, do I then have to do the calculation all over again i.e. £new amount x 12 divided by 52 followed by the 33% calculation? Is that the amount I write in my accounts book from that point onwards?

HELP PLEASE....it's driving me insane!

[deeb66]

Hi

I can understand why you are getting confused - it's not easy is it!!!

I also pay my gas and electric monthly and you know what I do which saves all this hassle - deduct your percentage once a month rather than weekly. I deduct it on the first week of every calender month.

The taxman doesn't really care if you do it weekly or monthly as it is all in the same calender month.

Try doing it this way and it will certainly make your life easier!

Hope this helps

Dee

[bubbly]

Dee, thanks for your reply. The problem I have is when the bill changes. I'll calculate it weekly but just want to know if I re-calculate the entire 52 weeks when the bill rises.

[deeb66]

Hi Bubbly

If you still want to claim the deduction weekly then that is the only way you can work it out.

Hope this sheds a little light

Dee

[lisaurry]

Hi Bubbly,

Yes, if any utility bills increase, just do the same calculation again and then put the new amount in from that week forward.

Lisa x

[bubbly]

Thanks Dee and Lisa. Think I'm finally getting to grips with it

[buildingblocks]

Also remember that the percentage may change depending on the number of hours that you work.

My hours vary from week to week so I have to work out three amounts one for part time one for full time and one that I call inbetween hours if that makes sense (I go the three oercentages from my initial NCMA accounts book)

Remember that it is only the hours you work not all the extras that you do paperwork, etc sadly adn that you cannot claim for more than 40 hours a week

love Kate

[bubbly]

Yes, I'm ok with the hours/percentages - I have the NCMA accounts book. If I worked it out monthly, I thought I'd get in a mess if I had to cope with different percentages for different weeks. That's why I decided doing it weekly would suit me better.