questions about sending in to HMRC as requested.

Poshsalt

So childcare want more proof I work and want to see income and expenses etc. I do have an accountant but childcare want this very quickly and it needs to be all sent in, in next 48 hours so Im doing it myself.

I have some simple questions.

1. They want to see my business account statment, each line just says "paypal payment", should I find what that expense / purchase was then retype the line to say "ebay item pens". Or am I ment to not touch statements?

2. If I accidently bought something that wasnt for business, should I delete that line so its not added to the total?

3. Seprate from above, I've sometimes used company money as personal, I know this is a no, no, but is there a limit or a max to doing this? 

4. When paying back company from another account, the statement just says the company name, should I add on the end "repaid" or "returned directors loan"??

Regards, hope you can help.

Bookworm225

duplicate thread
https://forums.moneysavingexpert.com/discussion/6611896/have-3-businesses-but-childcare-want-more-proof-of-income-now-its-appeal-stage#latest

they want to know what your income level is, so annotating entries as business or personal is possibly all they need 

why are you apparently living off director loans rather than genuine personal income from your two sole traders and your Ltd company?

Poshsalt

Bookworm225 said:

duplicate thread
https://forums.moneysavingexpert.com/discussion/6611896/have-3-businesses-but-childcare-want-more-proof-of-income-now-its-appeal-stage#latest

they want to know what your income level is, so annotating entries as business or personal is possibly all they need 

why are you apparently living off director loans rather than genuine personal income from your two sole traders and your Ltd company?

Because originally the company was set up to take £1k out a month, but then sales where low and months started to be only £300-£500 a month so we decided to stop PAYE. An use money from another business but then the company has now picked up so I use hundred here and there, but looks like I do it often.

Bookworm225

Poshsalt said:

Bookworm225 said:

duplicate thread
https://forums.moneysavingexpert.com/discussion/6611896/have-3-businesses-but-childcare-want-more-proof-of-income-now-its-appeal-stage#latest

they want to know what your income level is, so annotating entries as business or personal is possibly all they need 

why are you apparently living off director loans rather than genuine personal income from your two sole traders and your Ltd company?

Because originally the company was set up to take £1k out a month, but then sales where low and months started to be only £300-£500 a month so we decided to stop PAYE. An use money from another business but then the company has now picked up so I use hundred here and there, but looks like I do it often.

so the bottom line is you need to evidence that you have sufficient income (£846.56 pcm) to qualify for the free childcare but your situation is rather confusing

yet you state that you take no money out of the sole trader as your personal financial "needs" are low and you then state you take loans out of the limited rather than "income".
Debts are not income, and if done regularly I am surprised your accountant has not warned you about circumventing PAYE.
Funds "reinvested" in the sole trader business account are not evidence of a lifestyle supported by your earnings

so what are you actually living on???
Partner pays for everything?