CM CLUB:Arrgh, just got my tax return in!

[PinkChick]

got business guy from cis coming round monday to help me go through it..he said to get all reciepts, utility bills out etc and come up with a yearly figure which i think we would use the utilities...thank god for him, im no good at these things
am hoping th e money i have saved to pay it will be spare(as i havent earned much and have spent lots!) so we can use it for holiday

ok, got recipets(eerything ive bought to do with business), bills for gas, electric, water, phone, council tax..what else can i provide?
i use mobile so could count that but dont keep the receipts for £10 per month - 2 month..downstairs of house window cleaner?..anything else?

I got mine too and have no idea what to do!!!!!! Once you have gone through yours any tips would be much appreciated!

i filed mine online on friday night! All done and dusted!!! [sorry for the smug face!} can send my spreadsheet i use for the year and when tax return comes in i already have my 3 basic numbers to type in!!

well i have everything in order, but dont know how much of some things i can claim for (for eg, the £560 modular sofa i bought soley for mindees in playroom, business guy seems to thinink i may have to use a % of it over what i would think the life of sofa would be say 3-4 years???)

my tax lady from IR told me that its ok to claim upto 25% as long as the item is used or fitted for the mindees. Had a new sliding door put in recently onto entrance of conservatory/playroom and have put 10% thorugh books. New laminate being fitted and can claim 25% of cost also having new kitchen fitted and IR say that as one of the reasons im having it done is for food hygene purposes can claim 15% of that in next years books too!!!

Sorry to be cheeky bonkerz, but could you please send me your spreadsheet too???
[email protected]
Thanks

oh yes sorry ..joanne dot gowland at ntl world dot com.thanks

done

That is fantastic, thank you!!!!!!

just hope it makes sense!

Very easy once oyu get it set up.

very well explained!..thankyou

well, it looks like i shouldnt be paying anything.BUT......they may(probably will) take nto account the grants i was awarded for getting back into work and help me buy equipmment, so then i may..what a faf on!..gonna reg online now, then wait for password and do it there instead of waiting for post!..huh!

if you had a grant then you cant put the things you bought from that through the books. Apart from that you dont declare the grant as income.

anyone know about child tax credits and the tax return? do we have to declare anything? thanks

tax credits say that if giving an estimate then you give 1/3 of your total yearly income. then you give the actual amount at end of tax year. I always say i will be under tax bracket and they then adjust if needs be at end of year. Has worked for me for 3 years now. Give estimate of £4100 income after expenses and usually come in under £4000 bracket!

but no you dont declare tax credits as income (sorry just read your question again!)

thanks for that. another question now someones here! what about if the parents pay you by a childcare voucher scheme. does this have any effect or is this just cunted as cash in your normal monthly earnings?

rude word alert! i am soooooooooooo sorry!

did i scare everybody off????

its counted as normal earnings ie cash in your account.

thanks! anyone want to share how much tax they pay say if they earnt £15,000 in normal earnings? i know you get the tax free amount and deductables but i just wonder how much everyone else deducts. its hard to know if you are claiming all you can! what would you expect to pay on this amount? thanks

cant help you there im afraid. Have never earnt over 10,000 in year BEFORE deductions and thats with 2 full time mindees and 4 full timers in holidays plus 2 after schoolers!!!

Id be interested to hear how you can earn £15000 after deductions too!!!!

not £ 15,000 after deductions thats would be actual income! so then less the £5000 tax free less consumables etc etc!

yeah! like i said before IR tend to say as a childminder you take GROSS earning and declare 1/3 as INCOME so therefore £15000 GROSS means £5000 INCOME!!!!!!!!!!