Active discussions

Please or to access all these features

Talk
Paid childcare

Discuss everything related to paid childcare here, including childminders, nannies, nurseries and au pairs.

Original poster

CM CLUB:How much tax would you pay on..

65 replies

PinkChick · 02/08/2008 08:40

Approx £10-£11'000?

trying to do online, theyve invalidated my password as i hadnt used it and trying to find out how much i can spend out of tax savings on new stuff???

OP posts:
Are your children’s vaccines up to date?
Set a reminder
Original poster
PinkChick · 02/08/2008 15:11

Wow, if its based on the remainder of my balance it is just over £1100!!!

OP posts:
Original poster
PinkChick · 02/08/2008 15:09

Sokay Mrs..so do i deduct the £6350? as the other £5k(when it was £15k) has already gone/come back in via food/repair/toys etc

OP posts:
Original poster
PinkChick · 02/08/2008 15:08

ooh 20%!!!!!!!!!!!! had not been informed of that(or have i been not listening??)..iearned £15'000say, i took £5'00ish off for expenses, equiptment so on, so left approx with £10'000?

OP posts:
MrsFluffleHasAWuffle · 02/08/2008 15:06

Sorry Pinkchick, you did say it was after expenses, didn't see.

There is a very good list of what you can claim knocking around somewhere on a CM forum, I'll see if I can link to it

MrsFluffleHasAWuffle · 02/08/2008 15:05

32k is your income then not your profit cmnft totally different things

Pinkchick is that 10-11k your income in total or your profit ( with expenses already taken off?)

personal tax allowance this year is £6350 and everything after that is at 20%.

hth

Shoshe · 02/08/2008 15:04

I must admit I do three round trips of 10 miles a day for school runs in the September Term and 2 round trips the rest of the time, at 40p a mile it soon adds up.

Plus as we are rural we have to go further a feild for most activites so have a HUGE mileage claim.

Plus I claim for all food, for two meals a day for 3 children and breakfast and snacks for up to 4 more.

Expenses for equipment, toys, toilitries comes to quite a bit, I do put alot back into my busisness.

Original poster
PinkChick · 02/08/2008 14:46

well i earned about £15'000, could claim for £5000 ish..how on earth does anyone get it down so low not to pay tax????

OP posts:
Shoshe · 02/08/2008 14:39

I've never paid tax (actually not true, one year I did as I didnt claim for all expenses as wanted to get a mortgage)

I calim for EVERYTHING, it is easier for me as have no children at home, so everything child related goes against tax.

And yes have been audited and passed

Original poster
PinkChick · 02/08/2008 14:30

hang on tho, you dont pay anything for the first 5000 something? so the rest is based on the other 5-6..is it 8? 10%?..so wouldnt it be more like £500 something??argh, wish i could just get on line to do it

OP posts:
Original poster
PinkChick · 02/08/2008 14:28

Shit, if that IS the case im short then!..i thought £700 max?..got about £1000 but thought id be way ahead???????????

OP posts:
changedmenameforthis · 02/08/2008 12:25

why not? my accountant claims for everything. i know people on same sort of money who paid virtually nowt. but i like mmy accountant so will givw him another chance this year lol

MrsFluffleHasAWuffle · 02/08/2008 12:21

that can't be cmnft

changedmenameforthis · 02/08/2008 12:09

i paid 1100 on 32k last year

MrsFluffleHasAWuffle · 02/08/2008 11:08

11,000 about 1100ish

KatyMac · 02/08/2008 09:22

Normally I'd do an estimate - but the rules just changes & I don't understand them any more