Childcare voucher question

Atui

hi all,

1) 124 or 248?
Assuming the higher tax threshold is 42,000 and my annual salary is 41,000, I do have extra income (like rental income) that could potentially range from 999 to 1999 however I wouldn't know it until the end of the tax year, based on the information above am I entitled to buy 124 childcare voucher or 248 childcare voucher per month please? If based on the employer's assessment I'm entitled to buy 248 and I'm buying 248, but I ended up become a higher tax payer following the end of year self assessment, what would happen?

2) Can I start buying childcare voucher from the month the baby is born, and to start using them from year 2?

Thanks.

Darksparkle

It's £124 or £243.

Do you pay into a pension? That would potentially reduce your taxable income.

The higher rate band from tomorrow will £45,000 (£43,000 in Scotland).

You can start from when your child is born.

Atui

Darksparkle wrote: »

It's £124 or £243.

Do you pay into a pension? That would potentially reduce your taxable income.

The higher rate band from tomorrow will £45,000 (£43,000 in Scotland).

You can start from when your child is born.

Thanks a lot for your prompt reply, the figure I gave above is only an example, in plain English the question is actually what if my salary (from the employer who provides childcare voucher ) is blow the threshold, but my extra income could potentially make the total income above the threshold? I will have to tell my employer how much I want to buy at the beginning of the tax year but can only tell if I am a higher tax payer at the end of the tax year following the self assessment.

Thanks.