Student Maintenance Grant Parental contribution calculator

Paul_Cullen

Could anyone please help i am looking to calculate the amount of money I will need to save to top up my daughters grant next year for subsistence

I understand the advice on the website and the calculator other than what they define as taxable income , the student loan advice line on the government website is useless and the advice is contradictory
I essentially am trying to establish the definition they use for taxable income i.e. is it the gross salary earned by myself and my wife or is it the salary after tax allowances via tax code which is significantly different in our case nearly £19K different

when I asked the student loan helpine I was met with "what is a tax code !" , then contradictory advice of first use the gross figure , then use the net figure and then use the gross figure again!

The people answering the phones clearly have no clue , can anyone please advise so we can get our calculations correct on how much we need to save to support our daughter

many Thanks
Paul

[Deleted User]

Gross salaries plus any other income

Spendless

Gross salaries plus if you receive any other benefit in kind eg company car/s they need including.

peachyprice

The .gov calculator asks for 'household taxable income'. Taxable income is income before tax/NI is applied.

agrinnall

The key taxable income figure is the one labelled that on your P60. For most people in employment it will be gross salary - pension contributions, but if you also receive benefits then you would need to add in any of those that are taxable, and in a small number of cases there will be other income sources (for example, profit from rental income) that would need to be taken into account.