Childminders Focus – Indoor activities
10 December 2007Add to My Folder
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Allison Lee explains the financial side of running a small business, gives advice on claiming expenses and provides activities on the theme of ‘Past and present’
Keeping the books
As a childminder, you are self-employed, and as such you will need to understand the financial aspects of running a small business. There is a certain amount of paperwork that you will have to keep on top of in order to ensure your business runs smoothly.
Although childminders are ‘contracted’ to the parents whose children they care for, they are not actually ‘employed’ by them and are responsible for:
- paying income tax and National Insurance contributions
- obtaining legal and public liability insurance
- obtaining insurance to cover yourself, home and car
- maintaining accurate, up-to-date, financial records that clearly show your income and expenditure.