Finances/Contracting a Co-Childminder

[SuperLuLu]

Hi,

I am in the process of starting a childminding business (only completed CHiP and not yet progressed onto other stages) and am now considering working with another. They are currently a nursery nurse. I would like to know the best options for us both. We will be working from my premises, I want to avoid employing them, due to employment laws, min wage etc, so I do not really think the assistant route is something either of us want to go into.
Ideal scenario would be to have them registered as a childminder from my premises also.
This poses the question on how we would work out wages.
Could I contract them, and they invoice me what is owed?
Would it be best to have a joint account and we do our expenses jointly and then share the remainder (bearing in mind this is my premises and I am likely to be in charge of majority of expenses, utilities blls, driving etc).
If anyone could shed light on how they manage teir finances when you are co-childminding with another it would be much appreciated.
Thanks in advance

My co-childminder and I have been operating from her home for three years. I'm registered to childmind in her home

We are both self-employed childminders. We have a joint bank account into which all fees are paid. We decided what we would pay ourselves, and transfer that sum monthly into our own current accounts.

The remainder stays in our joint account; all business expenses, tax etc come out of that account.

Before we started we engaged an accountant; I'd advise anyone starting up a co-childminding business to do the same.

We have been friends for many years; because of this my friend does not charge me any sort of rent. I think it's normal for a co-childminder who's working in another's home to pay rent - only fair as it's the resident childminder who has to cope with the (considerable) wear and tear to her/his home caused by the number of children two childminders can care for.

Make sure that they can satisfy the self employed criteria mostly that you are both equal in being able to set your own hours.
If you intend to be the boss and tell them when they are to work etc. they will need to be employed.