Child care tax breaks for the self employed etc
Discussion
I'm sure the answer is no ......
But our child care expenses are quite significant, I'm sure we are not alone ! I'm self employed (director 1 man LTD Company, my wife is self employed , sole trader.
Can we offset any of our child care costs against earnings ?
These are costs to one person/childminder as opposed to a nursery . Could I "employ" her through the company, or would I then end up with PAYE / NI issues......or is it simply not a tax deductible expense.
Thank you
But our child care expenses are quite significant, I'm sure we are not alone ! I'm self employed (director 1 man LTD Company, my wife is self employed , sole trader.
Can we offset any of our child care costs against earnings ?
These are costs to one person/childminder as opposed to a nursery . Could I "employ" her through the company, or would I then end up with PAYE / NI issues......or is it simply not a tax deductible expense.
Thank you
Hi Eric,
No it was an idle thought the other day after we forked out another £800 !
But we do have a good accountant, handily we both use the same one, so obviously next port of call. If just had a quick google, and it doe appear to be a changing system, from employer based vouchers to vouchers that can be used more universally.
Thanks
No it was an idle thought the other day after we forked out another £800 !
But we do have a good accountant, handily we both use the same one, so obviously next port of call. If just had a quick google, and it doe appear to be a changing system, from employer based vouchers to vouchers that can be used more universally.
Thanks
Eric Mc said:
And do you claim Child Benefit?
And if you do, do you need to be aware of the impact it has on your Self Assessment tax returns?
Only an issue for those with (adjusted) personal income > £50k.And if you do, do you need to be aware of the impact it has on your Self Assessment tax returns?
The new £2k a year childcare allowance isn't in place yet - I think its meant to start April 15.
David
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