Tax credits renewal help - childcare vouchers
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Rince
Posts: 320 Forumite
Hi, I'm trying to fill in the Tax credits renewal form and where i've got to put the income from employment figure in, i'm confused as to what to put. I've got my P60 and would normally put that figure in, but i've read several times on this forum that if you claim the childcare vouchers from your employer, which I do (the maximun £243 Busy bee vouchers) then you can deduct this from the value of income from your P60, as it's classed as a salary sacrifice.
The £243 gets taken out of my wages before tax is paid.
Before I do this I want to make sure it is correct. I've been on the Tax credits website and looked under the part about how to work out what figure to use as total income and there is a section on what you can deduct and these childcare vouchers aren't mentioned.
So before I put in an income figure, can anyone advise if you can / cannot deduct the amount of childcare vouchers. Thanks.
The £243 gets taken out of my wages before tax is paid.
Before I do this I want to make sure it is correct. I've been on the Tax credits website and looked under the part about how to work out what figure to use as total income and there is a section on what you can deduct and these childcare vouchers aren't mentioned.
So before I put in an income figure, can anyone advise if you can / cannot deduct the amount of childcare vouchers. Thanks.
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Hi, I'm trying to fill in the Tax credits renewal form and where i've got to put the income from employment figure in, i'm confused as to what to put. I've got my P60 and would normally put that figure in, but i've read several times on this forum that if you claim the childcare vouchers from your employer, which I do (the maximun £243 Busy bee vouchers) then you can deduct this from the value of income from your P60, as it's classed as a salary sacrifice.
The £243 gets taken out of my wages before tax is paid.
Before I do this I want to make sure it is correct. I've been on the Tax credits website and looked under the part about how to work out what figure to use as total income and there is a section on what you can deduct and these childcare vouchers aren't mentioned.
So before I put in an income figure, can anyone advise if you can / cannot deduct the amount of childcare vouchers. Thanks.
Hi there
You can do this by phone as well, we do, its a lot quicker and you can then tell them the extras then, such as vouchers etc or whatever they need to know. I think its a lot easier to explain this on the phone.
Good luck.;)The one and only "Dizzy Di"
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Hi, yes I wil actually do it over the phone, but i'm trying to find out where it tells you, you can take off the childcare voucher from the total income. cheers0
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Hi, yes I wil actually do it over the phone, but i'm trying to find out where it tells you, you can take off the childcare voucher from the total income. cheers
Hi there
Not too sure on that to be honest, they should be able to confirm this to you on the phone as well, and hopefully someone will post up soon to help you here, all the best.;)The one and only "Dizzy Di"0 -
Bump .......
When I spoke to a woman at Tac credits, she didn't seem to know and said just put whats on my P60. Anyone know ? Thanks.0 -
Hi - a senior advisor at tax credits told me to put the p60 figure and the salary sacrifice has already been taken into account on the p60 letter.
Check back through your payslips as the salary letters from your employers.0 -
That is correct! It is a salary sacrifice, therefore the amount for the vouchers are deducted from the salary before it is taxed, therefore the amounts shown on your P60 will be after deduction of the vouchers.0
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That is correct! It is a salary sacrifice, therefore the amount for the vouchers are deducted from the salary before it is taxed, therefore the amounts shown on your P60 will be after deduction of the vouchers.
Thanks for the replies everyone. I'm still confused as the vouchers are taken out of my salary before it's taxed, but my P60 shows my gross earnings, not £2916 less (243 x 12).0 -
If there is no mention of it on their site, i would then assume that it is full P60 earnings. You cant base actions on just thought.0
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Exactly. I will ask again when I phone in my earnings. I only asked because i'd read on this site that you could deduct the vouchers. Will let people know what they say. Thanks.0
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The details on your P60 are the ones used by the tax office to check if you have paid the correct amount of tax. If the taxable pay showing on your P60 is before deduction of the voucher's this is wrong because this would work out that you have paid too little tax.
Check your wage slips. They should show gross pay to date and taxable pay to date. The gross pay to date will be before any deductions, however the taxable pay to date will be after deducting vouchers, pension payments etc but before deduction of tax or NI. It is the total taxable pay amount that should be shown on your P60. If it isn't I would have a word with your wages department.0
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