Accounts and you car?

[2kidsunder5]

Hi

I was wondering what the best thing is to do regarding car and accounts.

I don't use my car very often for childminding as we tend to walk everywhere. However during the summer hols we have had quite a lot of trips and outings to places where I have had to use it.

Do you all just use the 40p per mile? I am useless at remembering to record the actual mileage. I take 2 of my mindees home twice a week in the car and it is probably only 2 miles per trip.

I would find it easier to put a diesel receipt through each month. i.e £5.00 when kids are in school and then maybe £10 / £15 when they are on school hols per month. Can I do that?

Sorry if that all sounds like waffle

Any input / help would be good.

Thanks Diane x

[sarahnev707]

Car costs are the trickiest to work out - personally I go on capital depreciation at a flat rate of 25% cost of the car but I'm supposed to keep a record of mileage and only found that out the other day when I read it...... not sure if lack of knowledge is a defence

I'd wait for someone more knowledgable than me to come along if I were you!

Sarahx

[lou]

i just do 40p a mile. i record every journey i do for childminding but i am a bit naughty and dont keep a record of my mileage, i really should do.

[ajs]

i also claim 40p per mile but i know how far it is to school and children's centre etc so just record how often in the week igo
if i do any outings i always forget to record the miles so i calculate after the journey using a journey planner like theaa.com and record that too

[mel]

I am doing a round trip of about 10 miles to a rural playgroup so will count that and also any outings. Not thought about capital depreciation.

Mel x

[lorraine2767]

I just claim the 40p per mile, but I always forget to check the mileage though. xx

[susi513]

I keep a notebook & pen in the car but I still don't always remember to note every journey. Just put the date, destination & mileage in it. I keep car park tickets & I've just started keeping a record of activities in my diary so when I do my accounts I can refer to both my diary & my mileage notebook so hopefully I'll be claiming for most, if not all of the journeys I make.

Apparently you can put though fuel receipts instead of claiming the mileage allowance but if you do this you will have to keep full business accounts. I don't really understand what thats all about. P.98 NCMA Handbook 07/08

Did you know you can also claim 24p a mile for using a motorbike and 20p per mile for cycle journeys (don't expect you to carry mindees on a motorbike ;D, but you might use these modes of transport to get to training sessions, for example).

[custardcream]

Hi,
stupid qustion really but when you keep a note of how many miles you do, do you just note literally how many miles from place to place or do you also note the mileage on your car mileometer from place to place, hope you understand what i mean cos i am a bit confused about this, i have only ever put through fuel receipts but it seems i shouldnt be doing this.

custardcream

[Pauline]

I think 40p mile is the best way to go. I read somewhere (might have been a NCMA handbook?) that to claim for your car as a business allowance is very complicated and not recommended.

Perhaps someone with a NCMA handbook could have a look and see if it was in there?

[Pauline]

ooops sorry, just noticed that Susi had already mentioned it!

Been one of those days!

[jen]

i have chosen to have an accountant look at my books. i signed up with one today.

I asked him about costs for car and he told me to put everything through, tax, insurance and all diesel. he said at the end of the financial year we can work out what % i use my car for business and % i use it for personal.

we brought the car solely for childminding so we don't use it for personal use that much.

i was surprised by this but i will do it - anything to save my tax bill!!

Jen x

[mel]

I think the ncma info states that if you earn over 15,000 then its worth offsetting your car as a capital expense.

Mel x