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Section 6. Money Matters

Registered childminders need to keep accounts of the money they earn (income) and money they spend (expenses). Creating accounts can be quite daunting the first time you need to do it, so we have created a detailed guide. This section has example documents showing how to layout your accounts, instructions to help you work out the maths and advice on setting fees.

Section 6 also has a step by step guide on what to do when parents don't pay their fees, including example letters and tips on claiming through the small claims court.

Contents

• Setting Fees
• Payment
  • Methods of Payment
  • Non Monetary Rewards
  • Providing Receipts
  • Payment Record
  • Late Payment
• Accounts
• National Insurance
• Tax
• Allowable Expenses
• Calculating Fractions and Percentages (%)
• Tax Deductibles
• Working Out Profit
• Weekly Accounts
• Monthly Accounts
• Yearly Accounts
• Self Assessment Tax Returns
• When Parents Don't Pay
  • Letter to State Outstanding Fees
  • The Parent's Response
  • Deciding Whether to Pursue a Claim
  • Small Claims Court
  • Preparing Claim Details
• Benefits
• Child Tax Credit UK
• Working Families Tax Credit
• Insurance
• Pensions

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