CYPOP5
1.5. Demonstrate financial planning for own home based service.
Maximum number of children (excluding my own) at any one time 3
Hourly rate £5
Maximum hours per week 40
Maximum weekly income £576.92 - £27692 pa
Expenses averaged as per the HMRC guide for tax for childminders 66% due to running costs –
Electricity £1680 pa
Water rates £792 pa
Council tax £1920 pa
Day to day expenses
Food £2000 pa
Petrol £2080 pa
Housekeeping £960
Upkeep of equipment £960
Outings £1440
Overall maximum gross per week: £330.42, £15860 per annum (48 week working year).
Tax payable at 20% over annual allowance of 10000
NI class 4 payable at 8% after allowance of 7956
NI class 2 payable weekly at £2.50
After research new child minders operate at 1/3 'occupancy' for the first year of trading , followed by 75% thereafter which must be factored into individual projections.
1.6 My support networks will include:
PACEY for training advice and support. Including recommended paperwork and contract help.
Network coordinator and the Local Authority are helpful to advise about updates on latest training requirements and any policy updates.
Health Visitors are invaluable to maintain current knowledge of young children’s milestones’ and to ensure healthy development.
Parents nobody understands their own children like their parents, so it is imperative to have a good relationship with the most important people in their lives.
Teachers spend the most time with school age children other than parents and keeping strong links with schools can be very helpful in ensuring that children are happy and settled.
My family/relatives in order to maintain a good work/life balance keeping strong relationships with my own family and friends is really important.
Childminding groups/ Childminding networks could be really helpful to share any tips or difficulties around being a childminder and what that in tales, sharing joint experiences (whilst maintaining confidentiality) is useful for
Maximum number of children (excluding my own) at any one time 3
Hourly rate £5
Maximum hours per week 40
Maximum weekly income £576.92 - £27692 pa
Expenses averaged as per the HMRC guide for tax for childminders 66% due to running costs –
Electricity £1680 pa
Water rates £792 pa
Council tax £1920 pa
Day to day expenses
Food £2000 pa
Petrol £2080 pa
Housekeeping £960
Upkeep of equipment £960
Outings £1440
Overall maximum gross per week: £330.42, £15860 per annum (48 week working year).
Tax payable at 20% over annual allowance of 10000
NI class 4 payable at 8% after allowance of 7956
NI class 2 payable weekly at £2.50
After research new child minders operate at 1/3 'occupancy' for the first year of trading , followed by 75% thereafter which must be factored into individual projections.
1.6 My support networks will include:
PACEY for training advice and support. Including recommended paperwork and contract help.
Network coordinator and the Local Authority are helpful to advise about updates on latest training requirements and any policy updates.
Health Visitors are invaluable to maintain current knowledge of young children’s milestones’ and to ensure healthy development.
Parents nobody understands their own children like their parents, so it is imperative to have a good relationship with the most important people in their lives.
Teachers spend the most time with school age children other than parents and keeping strong links with schools can be very helpful in ensuring that children are happy and settled.
My family/relatives in order to maintain a good work/life balance keeping strong relationships with my own family and friends is really important.
Childminding groups/ Childminding networks could be really helpful to share any tips or difficulties around being a childminder and what that in tales, sharing joint experiences (whilst maintaining confidentiality) is useful for