At a basic level as someone who is self-employed you’ll be registered for Class 2 National Insurance contributions. Your National Insurance contributions will be calculated from your tax return. Most of your day to day expenses are covered by Qualifying Care Relief so you don’t need to save receipts unless you have a young person in your care who has specific needs and expenses. The tax year ends on 5th April each year and you have until 31st January the following year to complete your return. Yes, you’ll need to fill in a self-assessment tax return. Does that mean I’ll need to fill in a tax return ? If you have a child staying with you from Friday to Monday, that entitles you to 2 week’s tax relief. That means that if a child stays with you for 1 night you will receive 1 week’s tax relief.
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