Income Tax and National Insurance for Childminders
As a Registered Childminder you are self-employed and run your own business. There is a legal responsiblity for keeping financial records and registering your business with Her Majesty's Revenue and Customs (HMRC).
The Finance Act 1994 states that accurate records need to be kept.
You will also need to register and pay for National Insurance Contributions (unless exempt) To find out more regarding your responsibilities visit the HMRC website below www.hmrc.gov.uk
If you would like more information regarding this, have you considered purchasing the NCA e-book " Business skills for childminders tax and insurance" ? Available from resources
HMRC also have a free online learning product aimed specifically at Childminders. This learning aid will take you through all aspects of self employment from registration to submitting returns. The main benefit of this targeted learning tool is that it has all of the information on the allowances available to childminders which are different to those for the general self employed people.Please use this link to access this online learning.