Hi
I am employed as a PAYE worker and my wife has been minding the kids at home for past 8-9 years.
In 2008 she set up a Montessori school from the home and due to the new ECCE childcare scheme, needs to get a tax clearence form and submit Form 11. (Even though it was due Oct 31st - we didn't know until last week)
Income from the Montessori for 08-09 was €15,000. As a start up costs will be more.
As we set up as sole traders & are currently jointly assessed, I have a couple of Q's.
(1) In form 11 submission, I need to include both my own employment and the Montessori income ?
(2) Can we claim for Car as she uses car when purchasing equiptment etc? Is there BIK here?
(3) What way do we allocate for Gas/Lighting/Martgage in terms of tax deductions? I have heard about different amounts of allocation ranging from 1/3 to 1/7 of the annual bill?
(4) Can we claim part of full mortgage as tax deductable or is it just the interest part of it?
thanks in advance