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lasshavinfun

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karenx

So have you been getting childcare vouchers plus also getting the childcare element?

lasshavinfun

karenx wrote: »

So have you been getting childcare vouchers plus also getting the childcare element?

Yes I get the salary sacrifice, plus help with my childcare via tax credits with nursery fees

Caz3121

You will have an overpayment I am afraid and I guess the sooner it is sorted out then the overpayment can stop increasing.

there is some information here about which will be better in your circumstances
http://www.hmrc.gov.uk/calcs/ccin.htm

there is a calculator here that will also show if you are better off taking the vouchers or the tax credits element

Rince

Morning, I was under the impression from threads on MSE, that you tell Tax credits that you're claiming the £243 vouchers, then minus this £243 voucher from the nursery fees, lets say for example £500 per month, so that leaves £257 nursery bill. You tell Tax credits that your nursery bill is £257. I spoke to tax credits about this last year and they said that was fine. Does anyone know any different ? The hmrc website is unclear. Thanks.

judy2357

lasshavinfun wrote: »

After coming across a post on here, I fear I have been doing something wrong, without knowing so.

I get salary sacrifice at work (243) a month, and claim tax credits for childcare costs, but I never knew that you had to tell the tax credits about this. I have been doing so for the past year.

So my P60 came and I phoned HR and asked advise on if the figure on the P60 (which is lower than my actual income because of the childcare vouchers) and they said this is the figure I need to confirm for my renewal.

Im so worried im going to owe the tax credits money now, I can just about afford to live at the moment.

I think you need to phone them up and be honest about it. If the figure on the P60 is lower than your income then you would get a higher amount of tax credits this year. So this would mean if you dont declare the sacrifice you would be even more in debt, if they were to find out. On the bright side if there has been an overpayment, I think they only take a proportion of this each week (something like 25%???) and that you may be able to negotiate a smaller amount again. However Im not sure of this so perhaps others on here will have more info.

lasshavinfun

judy2357 wrote: »

lasshavinfun wrote: »

After coming across a post on here, I fear I have been doing something wrong, without knowing so.

I get salary sacrifice at work (243) a month, and claim tax credits for childcare costs, but I never knew that you had to tell the tax credits about this. I have been doing so for the past year.

So my P60 came and I phoned HR and asked advise on if the figure on the P60 (which is lower than my actual income because of the childcare vouchers) and they said this is the figure I need to confirm for my renewal.

Im so worried im going to owe the tax credits money now, I can just about afford to live at the moment.

I think you need to phone them up and be honest about it. If the figure on the P60 is lower than your income then you would get a higher amount of tax credits this year. So this would mean if you dont declare the sacrifice you would be even more in debt, if they were to find out. On the bright side if there has been an overpayment, I think they only take a proportion of this each week (something like 25%???) and that you may be able to negotiate a smaller amount again. However Im not sure of this so perhaps others on here will have more info.

Thats great I will get on the phone to them this morning and try and sort this mess out, I really dont hope I oww them too much.
Thanks for all your help guys, this is a great place for advice

lasshavinfun

Just another thing to add though, its really not clear, I have never been asked about the vouchers, nor was it explained when the vouchers where offered to me via work. I think it should be mad emore clear