Childminding - does it pay well?

jenspens

Does anyone know how much childing pays? I have always worked in childcare so I am qualified. I would need to get registered but don't know if I can manage on the money it would pay.

Savvy_Sue

Best site for help is probably NCMA - rates vary across the country.

One problem is that you can't always run at full capacity, so your income can vary. Say you have a baby and two toddlers to care for (I think that would be allowed), then one of their parents wants to cut down your hours, you need to find someone to fill exactly those hours, and that can be tricky.

As for does it pay well, I'd say a good childminder is worth their weight in gold, so probably not as much as it's worth! :rotfl:

gabyjane

Hi i am a childminder and yes it does pay well! I earn a good amoutn each month BUT it can vary if you lose any children so always looking ahead!! any other info pm me!

cazad

Hi i am a childminder and i agree it does pay well but it varies depending on how many children you have. i am low on children at the moment so not earning a great deal so if anyone wants a childminder im free

jenspens

If you childmind, do you have to declare it as income, and can you offset the costs of the heating, nappies, food etc. against what you have coming in, so that if you do pay tax, it's not on the whole amount. Also, if I packed in my current job to do minding, on my husbands wage (LOW) we would qualify for working tax credit, so would that change if I did some childminding. I suppose what I should do is find out the pros and cons from somehwhere and maybe someone who knows about the tax and benefits situation. I might be able to mind my daughters kids if its allowed, but it would be done officially through the proper channels etc.

Savvy_Sue

jenspens wrote: »

If you childmind, do you have to declare it as income, and can you offset the costs of the heating, nappies, food etc. against what you have coming in, so that if you do pay tax, it's not on the whole amount.

Yes to both of those. You will have to register as self-employed with HMRC, and do a tax return each year, but this is not usually that difficult if you've kept good records.

jenspens wrote: »

Also, if I packed in my current job to do minding, on my husbands wage (LOW) we would qualify for working tax credit, so would that change if I did some childminding.

It might: you could put some hypothetical sums into entitled to and see what comes out. The biggest problem with income from self-employment and claiming benefits is that it's not always predictable, so things like Housing and Council Tax Benefit can become a bit of a nightmare. I'm not sure how WTC 'works', whether you have to notify every single change in income or what.

jenspens wrote: »

I suppose what I should do is find out the pros and cons from somehwhere and maybe someone who knows about the tax and benefits situation. I might be able to mind my daughters kids if its allowed, but it would be done officially through the proper channels etc.

NCMA and Ofsted are probably the two best places to look initially.

jenspens wrote: »

I might be able to mind my daughters kids if its allowed, but it would be done officially through the proper channels etc.

Now, this is one to watch: you can look after your daughter's children, BUT I believe she can only claim the childcare part of tax credits if you are a) registered with Ofsted AND b) not just minding her children but other people's as well. Certainly that was the case last time I was at all conscious of the details of the regulations: NCMA will know, I'm sure.

Sazere

Have a look at this website for more answers, it is dedicated to Childminders and has a whole section for people interested (pre-registration).

http://childmindinghelp.co.uk/forum/forumdisplay.php?f=1

CarUser_2

I have been a Child minder for just over 19 years and its been a job that pays better than most jobs. Depending on the area you live the rate will vary. I will in Leicester and im currently charging £3 per hour. I look after 7 children between the hours of 8am and 6pm and have done for years. The expences i have to make through out the year are on food, toys, equipment, courses and fees. In general you can between £22k and £25 after tax.

kelloggs36

it really depends on what other childcare vacancies there are in your area. In my area we were awash with new nurseries, so it was very difficult to fill places and I didn't earn very much. I could only get term time only before and after school children because of the number of nurseries around!! I am almost a qualified teacher now instead!