Immoral_angel's Debt Diary

immoral_angeluk

lou779 wrote: »

Yes and the good part is you are working but still get to be there with your own children. Remember you would have to budget for meals, snack and outings etc but everything is tax deductable. a percentage of you rent, council tax, electricity and gas are also tax deductable as well as an allowance for wear and tear. You do need public liability insurance (very cheap) though and if you have accidental damage insurance that may go up slightly, Oh and your car will need to be insured for business use if you plan to take any minded children out in it.

I find it great though because like I say you're earning but it doesn't feel like you're working. Also you are qualified as a nursery nurse so I think parents will be falling over themselves to get a vacancy with you. I don't have any childcare qualifications yet.

God that sounds like a lot to think about.... wear and tear, rent/gas/electric tax deductables???? :eek: How do you sort that out?????

lou779

Its not as hard as it sounds. It's probably different in England but I got a leaflet explaining how to work it out. Its just a case of deducting however much the percentage is of each bill from your wage before you work out the tax. There is actually an accountant who specialises in doing tax for childminders. You just send him everything (even a shoebox full of reciepts I've heard) and he works it out for you. Its not that hard though and to be honest everything is tax deductable and so far I've never had to pay tax.

barnaby-bear

immoral_angeluk wrote: »

God that sounds like a lot to think about.... wear and tear, rent/gas/electric tax deductables???? :eek: How do you sort that out?????

If you add in the tax credited to the race for life you've raised there's an extra £47+ you haven't mentioned going to the charity

tigtag02

£5 per hour sounds a bit steap IA - is that the norm where you are?
tigtag

immoral_angeluk

I didn't even realise!

immoral_angeluk

tigtag02 wrote: »

£5 per hour sounds a bit steap IA - is that the norm where you are?
tigtag

Dunno.. was just a figure I plucked from my head... are childminders exempt from minimum wage then?

themaccas

Hi IA I think you'd make a fab childminder! The going rate here is around £3 - £3.50 per hour. Have you looked at the childcare government website? You can search for childminders in your area and they will often quote their hourly rate.

immoral_angeluk

Thanks Maccas will have a look..

themaccas

The other thing is to get your self registered with childcare voucher schemes like BusyBees. If you can offer that to parents (they can get these through their payroll dept upt to a max of £222 per month and they don't pay tax on this amount) that will make you even more attractive to prospective parents. It is very easy to do and when you recive the vouchers, you phone them on a freephone number quoting the voucher number and they credit your bank account with the money 3 days later.

Spendless

IA- Bare in mind you have to count your own kids in the total and you only used to be allowed to look after a maximum of 3 under 5 year olds.