Tax deductions
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Thread: Tax deductions

  1. #1
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    Default Tax deductions

    This list is far from exhaustive... feel free to add more!

    This is Pauline's link for working out the %ages...

    http://www.hmrc.gov.uk/manuals/bimmanual/bim52751.htm

    The tax year runs from the previous April to the current April, so don’t give any figures that relate to income/expenditure outside of these dates, except when you are first starting out and have incurred expenses to set up and to comply with Ofsted requirements. Then you can claim the following (and any more you have recorded in your expenses book) –


    Stair gates
    Grill covers for drains
    First Aid box and contents
    Fencing needed to make the garden safe
    Padlocks for garden gates
    Cost of moving locks on doors and making good
    Warning stickers on patio doors
    Play equipment (indoor and out) incl books and drawing supplies suitable for the age of children to be minded
    Reins or wrist straps
    Socket covers & other safety equipment
    Fireguard
    Application / registration fee
    Fire blanket
    NCMA membership
    Accident book
    Contracts printing
    Public liability insurance
    Advertising costs

    You can then claim for the day-to-day expenses incurred in running your business from home...

    A new list, fully updated for 2010, has been uploaded onto the forum.

    You can find it at the top of the forum in 'free resources'.

    I hope you find it helpful
    Last edited by sarah707; 26-03-2010 at 07:43 AM.

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    Default Re: Tax deductions

    Wow, thank you Sarah!

    I have missed a few things off, this means I have earnt even less than I thought haha

    How do you work out the % for sky, household insurance and AA cover?

    Also, with regards the car, we were told either 40p a mile OR proportion of mot, service, insurance, etc but the 40p a mile much easier and normally a better rate. I have been claiming the 40p a mile, not that I do much mileage anyway, but can I also claim for service, mot and insurance?

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    Smile Re: Tax deductions

    Thank you I will pass it on to my computerless minder riends who I know do not claim their entitlements. One doesn't claim mileage for her car and never has done over 14 years. She has asked me to sit down and go over it with her. xx

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    Default Re: Tax deductions

    Quote Originally Posted by berkschick View Post
    Wow, thank you Sarah!

    I have missed a few things off, this means I have earnt even less than I thought haha

    Oh no! Even less to be silly spending!!

    How do you work out the % for sky, household insurance and AA cover?

    I work full time so I put 10% through for most things but 50% for sky as I wouldn't have the blooming thing if it was just my children - they have freeview in their rooms

    Also, with regards the car, we were told either 40p a mile OR proportion of mot, service, insurance, etc but the 40p a mile much easier and normally a better rate. I have been claiming the 40p a mile, not that I do much mileage anyway, but can I also claim for service, mot and insurance?
    Explained in the 1st post on the thread!

    IF YOU CAN JUSTIFY IT AND PROVE YOU SPEND IT, CLAIM IT!
    Last edited by sarah707; 24-08-2008 at 05:28 PM.

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    Default Re: Tax deductions

    Thank you Sarah!

    Very helpful as my earnings will increase by £100 a week in 2 weeks time so it will be good to "loose" some of that money.

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    Default Re: Tax deductions

    Quote Originally Posted by sarahnev707 View Post
    This list is far from exhaustive... feel free to add more!

    This is Pauline's link for working out the %ages...

    http://www.hmrc.gov.uk/manuals/bimmanual/bim52751.htm

    The tax year runs from the previous April to the current April, so don’t give any figures that relate to income/expenditure outside of these dates, except when you are first starting out and have incurred expenses to set up and to comply with Ofsted requirements. Then you can claim the following (and any more you have recorded in your expenses book) –


    Stair gates
    Grill covers for drains
    First Aid box and contents
    Fencing needed to make the garden safe
    Padlocks for garden gates
    Cost of moving locks on doors and making good
    Warning stickers on patio doors
    Play equipment (indoor and out) incl books and drawing supplies suitable for the age of children to be minded
    Reins or wrist straps
    Socket covers & other safety equipment
    Fireguard
    Application / registration fee
    Fire blanket
    NCMA membership
    Accident book
    Contracts printing
    Public liability insurance
    Advertising costs

    You can then claim for the day-to-day expenses incurred in running your business from home –

    • Baby cutlery/crockery if you do not already have that available
    • Boiler or other maintenance agreement (%age)
    • Books, magazines, newspapers, posters etc
    • Broadband (%age)
    • Car insurance, including any extra payable for transporting minded children; tax; MOT; rescue (%age)
    • Car – capital allowance or petrol usage - this varies annually – contact tax office for details
    • Carpet / suite cleaning (one a year)
    • Computer software / printer cartridges / paper purchased for the use of the children in your care or for your work
    • Council tax (%age)
    • Courses - travel to and from courses
    • Days out – to the park (including entry costs and ice-creams once there), seaside, zoo, swimming pool, birthday parties, cinema etc, not forgetting the mileage (petrol consumption)
    • Drawing/writing/painting equipment to replenish stocks
    • Equipment (normal or specialist), again if needed for a child from a different age group or to comply with a disability request
    • Electricity (%age) - including food preparation
    • Food, drink and milk used for minded children
    If you make batches of food for the whole family and use half for the minded children, claim half the cost of your expenses. It might be useful to keep food receipts for a few weeks every so often to check what you are charging as expenses is right
    • First aid equipment to re-stock cabinet
    • Food - add up your meals/snacks provided every week!
    • Gas (%age)
    • Insurance - house (%age)
    • Letters/ newsletters to parents
    • Magazines to keep up-to-date on minding issues
    • Mobile phone - (%age) if you need to be contacted by a parent/school then you will have to carry one
    • Petrol - estimated mileage (petrol consumption) to collect/deliver minded children
    - Prams / buggies / buggy boards etc bought to replace
    • Presents and cards for birthdays, Easter, Christmas
    • Safety alterations as required by Ofsted at inspections
    • Toys / games etc - to replace broken ones, if you take on a new child from a different age group or to follow a child’s interests
    • Ofsted annual fee
    • Photographs printed for parents; used in setting; for evidence
    • RAC/AA membership (%age)
    • Stationery including stamps, pens, pencils, envelopes, cash book, receipt book, first aid record book, photocopying etc
    • Safety equipment recognised as needed when doing risk assessments
    • Subscription fees to any Childminding groups
    • Sundries – include cotton wool, hand towels, kitchen rolls, dustbin liners, gloves, disinfectant, washing-up liquid, loo roll etc
    • Telephone / mobile cost / rental (%age)
    • Telephone / mobile calls / texts - to parents of minded children
    • Toiletries incl nappies if supplied, wipes, toilet paper
    • TV licence (%age)
    • TV – sky or similar, if used for minding (%age)
    • Unexpected expenses arising from minding needs eg car breakdown (%age); boiler breakdown (%age)
    • Water rates (%age)
    • Wear and tear on household furnishings (1/10th of your total income before any other deductions)
    internet (a portion of use)
    gardener
    cleaner
    fencing if its for little ones
    anything youve bought for little ones that your children are not the age for(my kids are 11 and 14 so anything little i could claim for)
    you can buy your own childrens toys off them and sell them to yourself
    staionery
    One life live it

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    Default Re: Tax deductions

    Quote Originally Posted by sarahnev707 View Post
    I do! I have to keep a car on the road and I have to show all the docs to Ofsted so I claim - I put through at 10% again

    IF YOU CAN JUSTIFY IT AND PROVE YOU SPEND IT, CLAIM IT!
    Absolutely!!! No wonder you don't pay tax Sarah. I thought I had everything possible but there is a few on there I have missed. Thanks

    amanda xx

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    Default Re: Tax deductions

    Thanks for that a few that i had not thought about.
    Netty

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    Default Re: Tax deductions

    if i only work 25 hours a week childminding, and i only watch tv about 2 hours each day, how much could i claim from sky??! x
    Love GG x x

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    Default Re: Tax deductions

    I claim most things at 10% for 40 hour week... like on the examples in Pauline's link... so following that, 25 hours appears to be 6%...

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    Default Re: Tax deductions

    hehe thanks for that!! I am a little slow on the mathmatical side....!! xx xx
    Love GG x x

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    Default Re: Tax deductions

    I'm the same! That's why i like it that it's 10% for full time I can usually manage to work out 10%!

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    Default Re: Tax deductions

    Fantastic thread Sarah, thanks so much, this is a really weak area for me



    Sarah

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    Default Re: Tax deductions

    Thanks for this. I thought i left lots off. Well its back to the books for me. I will get my tax down enough. I done a rough count last week and it looks like ill have to pay £500 as i have two incomes. So anything that can get it down is great.

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    Default Re: Tax deductions

    Thanks so much, ladies, for this great information! As I said somewhere else, I would love to make the change from employee to childminder, but as this would mean becoming self-employed, I am afraid to "leap in" and find out that I am much worse off! I have heard from one or two childminders I know slightly, that they have so many deductions for their business, that they do not pay tax at all! I found this a little hard to believe, but now I'm not so sure! You've given me food for thought. Zuzana

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    Default Re: Tax deductions

    I never even thought of claiming for the internet, but when you think about it the amount of time i use it for when researching for planning and of course on the forum proberly 50% of internet usage is used for childminding so how much could i claim for?.
    Bev X

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    Default Re: Tax deductions

    I have always paid some tax. Not a huge amount but until I came here and saw what I should have been claiming for I realise I was doing myself. Not this year though.

    Annie x

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    Default Re: Tax deductions

    Quote Originally Posted by bmapes View Post
    I never even thought of claiming for the internet, but when you think about it the amount of time i use it for when researching for planning and of course on the forum proberly 50% of internet usage is used for childminding so how much could i claim for?.
    Bev X
    I think you've answered your own question!

    If you use it for childminding and you can justify using it if someone comes to check... claim it!

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    Default Re: Tax deductions

    Great thread, there were quite a few things that I did claim back last year, hadn't thought about the sky one. What about car insurance again, my company didn't increase the premium for class 1 use when I increased the cover do you think I can still claim back a percentage of the total premium?

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    Default Re: Tax deductions

    Quote Originally Posted by anneriddington View Post
    Great thread, there were quite a few things that I did claim back last year, hadn't thought about the sky one. What about car insurance again, my company didn't increase the premium for class 1 use when I increased the cover do you think I can still claim back a percentage of the total premium?
    Do you use the car for childminding?

    If you do then claim - i just use the percentages from the site that pauline found!

 

 
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