Accounting For Child Minders
Caring for Your Finances While You Care for Children
Running a childminding business involves more than just providing exceptional care; it requires diligent financial management. At Swan Books, we specialise in accountancy services for childminders, understanding the unique challenges and requirements of your profession. Our aim is to ensure that your financial health is as well-cared-for as the children you look after.
Our services are designed to meet the specific needs of childminders, providing you with the support you need to manage your finances effectively.
- Comprehensive Bookkeeping: Keeping your financial records accurate and up to date with the latest software solutions.
- Tax Planning and Compliance: Navigating the complexities of tax legislation to optimise your tax position and ensure compliance.
- Payroll Solutions: Simplifying payroll management if you employ assistants, ensuring timely and accurate payments.
- Financial Reporting and Analysis: Delivering insights into your business performance to support informed decision-making.
- Business Advisory: Offering insights and advice to drive profitability, efficiency, and growth.
Why Choose Swan Books?
With over a 16 years of experience in providing accounting services to childminders in Essex and surrounding areas, Swan Books understands the specific financial challenges and opportunities within this industry. Our clients have consistently praised our approachable, thorough, and tailored services. Our commitment to your success is reflected in our client testimonials and our consistent high ratings.
There’s a reason we have nothing but 5 star reviews on Google.
Trustindex verifies that the original source of the review is Google.
Lily Burford3 July 2024Amazing service. Really efficient, professional and friendly. I would highly recommend for anyone needing guidance with business finance.Trustindex verifies that the original source of the review is Google.Cara Johnston28 June 2024Lovely and personal and very understanding.Trustindex verifies that the original source of the review is Google.James Marvell27 June 2024Very helpful. ThanksTrustindex verifies that the original source of the review is Google.Lauren Millington25 June 2024I’ve been working with stacey for a few years now and recommend her to anyone who is looking for an accountant, she is so down to earth and answers absolutely any questions I have no matter how big or small!Trustindex verifies that the original source of the review is Google.Refine Design24 June 2024Stacey is a wonderful lady! She makes the mind boggling process of accounts an absolute breeze! She's professional and speedy at what she does! I'm so glad I found her!Trustindex verifies that the original source of the review is Google.Official SleepWelness28 May 2024So accepting, easy going, clear, transparent & easy to talk to. She takes the weight off your shouldersTrustindex verifies that the original source of the review is Google.Zoe Vango24 May 2024Stacey is the best in the business, always gives the best advice and is 100% there when you need her! XxTrustindex verifies that the original source of the review is Google.Susan Webb24 May 2024Wonderful service. Recommended to my friends.Trustindex verifies that the original source of the review is Google.Helen Clarke24 May 2024Stacey has been amazing to work with. She has been able to explain everything in a language I understand and is calm, consistent and always communicative. Stacey came highly recommended and I feel in the safest hands. Thank you Stacey and team Swan Brooks! 🙏Trustindex verifies that the original source of the review is Google.Jackie Kelly24 May 2024Excellent. Very knowledgeable and confident. Stacey has sorted our family business out with minimum fuss. A pleasure to deal with and highly recommended.
recommendsTrustindex verifies that the original source of the review is Facebook.Refine Design24 June 2024Stacey is a wonderful lady! She makes the mind boggling process of accounts an absolute breeze! She's professional and speedy at what she does! I'm so glad I found her!recommendsTrustindex verifies that the original source of the review is Facebook.Vicki Daws28 February 2024Stacey has been amazing with me, as a first time business owner without a clue how to do my accounts, she's been so patient and understanding helping steer me correctly, relieving so much stress and pressure! She genuinely cares and has belief in my business which helps me have belief too! I highly recommend.recommendsTrustindex verifies that the original source of the review is Facebook.Stevie-May Cole27 November 2023Stacey has been great from start to finish. She has explained everything helping me understand and put my mind at ease throughout the process. I highly recommend Swan Books for anyone looking for an efficient local accountant 🌟🌟🌟🌟🌟recommendsTrustindex verifies that the original source of the review is Facebook.Georgia Billie Anthony24 October 2023Amazing at putting your mind at ease and extremely patient ! Could not recommend stacey enough 5 ⭐️ all round xrecommendsTrustindex verifies that the original source of the review is Facebook.Shiralee Swan Photography LSWPP, LNPS2 August 2023I took the big step in 2020 to start my own business. Stacey handles the numbers side of things for me, she very friendly and super helpful, and she never makes me feel like I have a silly little question. I, 100% recommend StaceyrecommendsTrustindex verifies that the original source of the review is Facebook.Olivia Charles20 July 2023Stacey has been fantastic with my accounts. She went through everything and was very helpful with any questions I had. Brilliantly responsive and got everything together in no time at all. I would highly recommend her!recommendsTrustindex verifies that the original source of the review is Facebook.Stuart Wilson2 February 2023Stacey has been fantastic, she does all my bookkeeping and submits all my tax returns. She has given me advise and is always there to answer my questions and provide support. Stacey has given me one less thing to worry about so I can focus on with running my business. 100% recommend Stacey!recommendsTrustindex verifies that the original source of the review is Facebook.Ross Cook9 January 2023Friendly and extremely helpful. We had many questions about sole trading and Stacey was more than happy to help, even at 8pm in the evening!recommendsTrustindex verifies that the original source of the review is Facebook.Sharon Groves1 December 2022Stacey has been amazing in getting my books in order and submitting my tax returns. She has given invaluable advise and is always on hand to answer any questions and provide support. Stacey has been a god send and given me one less thing to worry about so I can get on with running my business. Thoroughly recommend Stacey!recommendsTrustindex verifies that the original source of the review is Facebook.Natalie Wooden24 November 2022Stacey was so friendly and eager to help me from the start. Nothing was a problem. We did everything step by step and everything was taken care of for me. I’m so glad I found you Stacey! Thank you for your help and professionalism.
Our Process
Initial Consultation
Understand your business, your challenges, and your aspirations.
Onboarding
Seamless integration with your existing systems, training provided if necessary.
Tailored Solutions
We propose a bookkeeping solution adapted to your unique needs.
Regular Check-ins
Periodic reviews to ensure your financials are on track and to address any concerns.
Year-End Finalisation
Ensure everything is aligned, compliant, and ready for HMRC submissions.
Solutions We Use
We leverage cutting-edge accounting software to provide seamless financial management and reporting:
- Xero: For real-time financial tracking and insights, ideal for small businesses that value accessibility and efficiency.
- QuickBooks: Offering an intuitive platform for bookkeeping and financial management, perfect for keeping small businesses informed.
- Sage: Known for its comprehensive features that cater to more complex small business needs, from payroll to inventory management.
- Dext: Streamlining document management and expense tracking, ensuring that every financial transaction is captured accurately.
What Can Childminders Expense?
Effective expense management is crucial for maintaining profitability. Here’s an in-depth look at common expenses for childminders:
Childcare and Educational Supplies
- Toys and Learning Materials: Costs for toys, books, and educational resources.
- Art and Craft Supplies: Expenses for materials used in creative activities.
- Safety Equipment: Investment in safety gates, first aid kits, and other childproofing items.
Home and Operational Costs
- Home Office Supplies: Including items like stationery, printer ink, and office furniture used for administrative tasks.
- Utilities: A portion of your utility bills, such as electricity, gas, and water, can be claimed if part of your home is used for business.
- Rent or Mortgage Interest: A portion of these costs can be claimed if your home is your primary place of business.
Marketing and Client Engagement
- Advertising and Marketing: Costs for promoting your childminding services, including flyers, business cards, and online ads.
- Website & Hosting Fees: Expenses for maintaining a professional web presence.
Travel and Transportation
- Travel Expenses: Costs for travelling to and from childcare-related activities, such as school runs or outings.
- Parking and Tolls: Expenses incurred during work-related travel.
- Vehicle Costs: Including purchase, maintenance, and insurance for business-related travel.
Professional Development
- Training and Certification: Costs for courses and certifications to maintain and enhance your childminding skills.
- Professional Memberships: Fees for joining professional bodies or associations.
Miscellaneous Expenses
- Food and Drink: Costs for meals and snacks provided to the children in your care.
- Cleaning Supplies: Expenses for cleaning products to maintain a hygienic environment.
Stacey has been amazing in getting my books in order and submitting my tax returns. She has given invaluable advice and is always on hand to answer any questions and provide support. Stacey has been a god send and given me one less thing to worry about so I can get on with running my business. Thoroughly recommend Stacey!
Sharon Groves
HMRC Guidelines for Childminders
As well as the above, it’s essential to understand the specific HMRC guidelines that affect your financial management as a childminder. Swan Books can help you navigate these rules to ensure you maximise your allowable expenses and stay compliant with tax regulations. Below is a summary of the HMRC guidelines for childminders. For more detailed information, you can visit the HMRC Business Income Manual.
Income and Taxable Profits
- Income Tax: Profits from childminding are typically chargeable to Income Tax as trade profits. Some occasional childminders’ profits may be chargeable as miscellaneous income.
- Recording Income and Expenses: Use the cash book and attendance register from the Professional Association for Childcare and Early Years (PACEY) to record income and outgoings. Receipts are not required for items costing less than £10 unless multiple items purchased together total £10 or more.
Household Expenditure
Childminders can claim a portion of their household expenses based on hours worked:
| Hours Worked | % of Heating and Lighting Costs | % of Water Rates, Council Tax, and Rent |
|---|---|---|
| 10 | 8% | 2% |
| 15 | 12% | 4% |
| 20 | 17% | 5% |
| 25 | 21% | 6% |
| 30 | 25% | 7% |
| 35 | 29% | 9% |
| 40 (full time) | 33% | 10% |
Wear and Tear of Household Furnishings
- 10% Deduction: Claim 10% of total childminding income for wear and tear on household furnishings. This covers items not used exclusively for childminding.
- Cleaning Costs: Reasonable cleaning costs for household items due to childminding activities can be claimed separately.
Other Allowable Expenses
- Food and Drink: Estimate costs for food and drink provided to children without needing receipts.
- Car Expenses: Use simplified expenses mileage rates or claim actual car expenses for childminding purposes.
- Additional Costs: Include expenses for toys, outings, books, safety equipment, stationery, travel fares, membership fees, public liability insurance premiums, and telephone use for childminding purposes.
Grants
- Start-up and Running Costs: Grants received to start or run a childminding business should be treated according to normal principles. Pre-trading grants are not trade receipts but may reduce the amount of pre-trading expenditure relief available.
Our Pricing
At Swan Books, we tailor our pricing to fit your business’s specific needs. Our bookkeeping services ensure that your business finances stay up-to-date using leading cloud accounting software like Quickbooks or Xero. Whether you prefer monthly or quarterly updates, we keep you informed about your business profits consistently. We cover all areas of bookkeeping, ensuring thoroughness and precision.
The pricing for our bookkeeping services varies based on the volume of transactions each month. For a customised quote and a detailed breakdown, please contact us.
Registration
£
45
00
-
Registration of you and your business self employment with HMRC.
Self Assessment Tax Returns
£
250
00
Prices From -
Preparation of tax calculation, preparation and submission to HMRC and financial statements
-
Prices may vary based on your business records. Please get in contact for a free consultation.
Bookkeeping
varies
-
Keeping your business finances up to date with cloud accounting software Quickbooks or Xero. Monthly or Quarterly updates providing you updates of business profits. All areas of bookkeeping undertaken.
-
Prices vary permitting to volume of transactions each month.
Books Clean Up
varies
-
If your accounts are in need of a tidy up and you want to upgrade your internal procedures for easier processes, you have come to the right place!
-
Prices vary client by client, please get in touch to discuss further.
VAT Returns
£
175
00
Prices From -
Quarterly VAT returns prepared and submitted with Making Tax Digital compliant software with all deadlines met.
-
Prices start from £175.00 per quarter
Power Hour
£
65
00
Prices From -
One to one power hour discussing your business accounting and how to make improvements to make your finances run more efficiently within the cloud software of your business alongside training on how to get the best of your software.
Payroll
£
20
00
Per Payroll -
All aspects of payroll processes ensuring all tasks are carried out by all deadlines and RTI compliant.
- Weekly or monthly payrolls
- Pension administration completed
- RTI compliant with HMRC
- Payroll year end service and reporting