Tax-free childcare - timing
kinger101
Forumite 6.2K Posts
in Cutting tax
Hi all
I'm currently eligible for the £2,000 tax free childcare from HM Government. That won't be the case for the 2023/2024 tax year as my earnings will likely exceed the £100K threshold (even after I've made the maximum pension contribution).
I did have one query re timing. On 10 March 2023, I'll need to reconfirm my income to determine availability of credit for April - June 2023 (I think it works on calendar months)
Am I able to state income is under the threshold at this point then deposit £2K into my childcare account before the end of the 2022/2023 tax year.
Thanks
I'm currently eligible for the £2,000 tax free childcare from HM Government. That won't be the case for the 2023/2024 tax year as my earnings will likely exceed the £100K threshold (even after I've made the maximum pension contribution).
I did have one query re timing. On 10 March 2023, I'll need to reconfirm my income to determine availability of credit for April - June 2023 (I think it works on calendar months)
Am I able to state income is under the threshold at this point then deposit £2K into my childcare account before the end of the 2022/2023 tax year.
Thanks
"Real knowledge is to know the extent of one's ignorance" - Confucius
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