We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Question re Working Tax and Childcare Vouchers
sunshine_1988
Posts: 2,119 Forumite
Hello
Just wondering if someone can help me with a question please...
Myself and my partner both work, we have a 2 year old son who currently attends nursery 3 days per week. I claim the maximum £243 in vouchers through my employer.
Due to a family arrangement not working out, we will be putting him in nursery for 4 days a week from next month. It will be tight for us and I had a quick google to see if we could get any help.
I know working tax credits go off the previous years income, which for us was a bit lower as I had a promotion in November so was earning a bit less before then.
I have been onto the calculator, and can't workout what figure I need to put in....I was only doing an estimate to see if we would be entitled.
So, from my gross pay, do I need to take off my childcare vouchers for the year (whatever the max amount is per year) and then on the weekly childcare costs, do i need to take off £55 per week also? Or, because my childcare vouchers are taken off before I get taxed, can I leave my gross as it curently is, and just put the weekly childcare costs as minus £55?
Totally lost, and don't want to waste my time putting a claim in if we shouldn't be.
Also, would my OH just be better waiting until the new government tax thing comes into force for childcare?
Thanks for anyones help in advance!!!
Just wondering if someone can help me with a question please...
Myself and my partner both work, we have a 2 year old son who currently attends nursery 3 days per week. I claim the maximum £243 in vouchers through my employer.
Due to a family arrangement not working out, we will be putting him in nursery for 4 days a week from next month. It will be tight for us and I had a quick google to see if we could get any help.
I know working tax credits go off the previous years income, which for us was a bit lower as I had a promotion in November so was earning a bit less before then.
I have been onto the calculator, and can't workout what figure I need to put in....I was only doing an estimate to see if we would be entitled.
So, from my gross pay, do I need to take off my childcare vouchers for the year (whatever the max amount is per year) and then on the weekly childcare costs, do i need to take off £55 per week also? Or, because my childcare vouchers are taken off before I get taxed, can I leave my gross as it curently is, and just put the weekly childcare costs as minus £55?
Totally lost, and don't want to waste my time putting a claim in if we shouldn't be.
Also, would my OH just be better waiting until the new government tax thing comes into force for childcare?
Thanks for anyones help in advance!!!
Little Man born 11 March 2012 :smileyhea
Newborn Thread Member
Newborn Thread Member
0
Comments
-
blondebubbles wrote: »With regards to declaring childcare costs you declare the amount that isn't covered by vouchers.
As far as I can remember your salary sacrifice will have already been taken into account in your "taxable pay" as this should be less than your "gross pay" so you do not need to make any further deductions.
Thank you for your response. Worked out about 26pounds per month on the estimate, better than nothing!Little Man born 11 March 2012 :smileyhea
Newborn Thread Member
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards