Mt C/Ming profit for 04/05 is......

[katymac]

a whopping £6002

For a 52.5 hr week plus extra for paperwork/accounts/training courses etc

Good job I enjoy it

I ment to put MY

Very good job

Hmm a before tax rate of £2.29 per hr

Not really worth it, is it?

mine was £3700 for 50 hours a week with 3 children under 3!!!

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About 70%

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alibubbles as you are in St A. your families pay more per hour don't they?

so it isn't really a fair comparison is it?

IMHO your post is rather unfair and boastful, don't you?

RTKM - my W&T is 275 this month.....

Food, petrol & staff are my big expenditure along with books

do you get books from book club?

My dad gives loads of books to DS from there as well as other places

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Wow. As a parent who has used childminders for 6 years this thread is a real eye opener. I pay my cm 3.50 an hour (she keeps telling me she is cheap!!) or £25 a day. I pay my cm about £5500 pa for ds and I provide all his food. TBH I don't wish ds life away but roll on when he starts school! BTW I think most childminders do a fantastic job and I know I couldn't do it but I have also turned down childminders who focus is too much about the money!

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I am the cheapest childminder in my area by 50p per hour! Last tax year i paid no tax. I include all milage, expenses (inc groups) all food(i provide 2 meals a day), all new equipment, a mobile phone that is for buisness use only and on contract, all the usual household bills at the rates set and expenses end up being about £300 per month, sometimes more. Generally its about £120p/m food, £60 p/m milage, £70-£100 per months expenses and £50 household bills.
I could charge more per hour and up my income BUT to be honest i would only end up paying huge amounts of tax and be no better off so i pass on my savings to my parents and if truth be known the Tax person i had advise me on my accounts said that IR dont expect childminders to earn enough to pay tax! Also i find that i actually have alot of disposable income due to the generous allowances set by IR!!!
By setting my prices low i also ensure i am always full, i have 2 childminder friends who charge 50p and £1 and hour more than me and both are facing having to advertise and be empty till they find new mindees! I have a waiting list!!!

How do you lot do the tax sort of stuff? Is there a manual or a guide, I havent the faintest. Im not a childminder myself and am in awe at your knowledge!

i have a great system of recording on a spreadsheet i made with help from a tx advisor! worked for me and had all the figures i needed when my tax return came in! Did mine within a week of recieving it!!!
I spend about 5 mins every friday going through and writing down all expenses and milage then i spend 15 mins per month transferring data to spreadsheet! At end of tax year i have 3 figures, total income, total expenditure and profit!

alibubbles it just seemed that you were boasting imho anyway.

tbh I don't work out the w&t part of it or the bills so I guess I am rather stupid

But I only have one mindee part time during term time {as we are not in here during holidays so don't charge retainer}

I only choose families from DH school as that fits in with our family holiday dates and times IYSWIM

She is having an extended maternity leave so don't have any atm, so I am free to mumsnet whenever I want when school starts next week.

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Didn't mean to start something ladies......

Honest

My DS is 10.5 years old and so isn't at home anyway.

I would rather choose the families I want to, and the ones that fit in with our family.

It is not "pin money" that I work for btw, it is just that the money is not as important as the family. So for all the tea in china, I will not choose the "wrong" family.

I realise that is an unusual attitude. And you may think me unproffessional, well that is your opinion and you are entitled to that.

It is just that it doesn't matter {moneywise} if I don't work for several months, this is the first time in many years, so I am treating it like a holiday.

We are away all of july and august anyway

So I just have an extended holiday from work until January. when the new baby will come back

When the baby comes in Jan I will be back to working attitude, it is just that I don't do all the paperwork in the same way as the rest of you and take money out of wages for expenses or W & T. So the taxman does rather better out of me than he should, I guess.

sorry KMc crossed posts

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I didn't mean that you had, what I meant was that I would rather have time off from working for 2 terms {Mindee's mum took maternity at easter} than take on another family, if they are not quite "right" IYSWIM.

I enjoyed my term's holiday in summer term and will enjoy the next term. Christmas shopping and mumsnetting

The NCMA books are a different way of setting hours and pay and if I used them that would make it a simpler way of tax etc.

But I set it out differently. The inspector told me my way was good as it was clear to her how it was worked out. And it was clear to me how it was set out. IYSWIM

RTKM & Alibubbles put your joint intellect to this one - I need a shed to store half my toys - so I can rotate them

It needs to be very dry - any suggestions ?

An ordinary wooden shed gets quite damp....

our shed is wooden and is very dry.

Itr has cardboard boxes in and they are ok

or try one of those metal boxes