Hello,
I hope someone can help, as I've been struggling to find an tax accountant in London (no answer to various enquiries on websites).
I need to demonstrate my salary is eligible for 30 hours free childcare (https://www.gov.uk/30-hours-free-childcare)
In order to do that specifically the site reads: "If you or your partner have an ‘adjusted net income’ over £100,000 in the current tax year you will not be eligible ".
so I have 2 questions please
1) how do I calculate "adjusted net income" . there is this site https://www.gov.uk/guidance/adjusted-net-income. however in practice which fields of P60 and P11D do i need to use please
for reference
What adjusted net income is
Adjusted net income is total taxable income before any Personal Allowances and less certain tax reliefs, for example:
2) what about all money that I spend monthly on private childcare, some 1500£/year for two children, is there any way to account for this maybe as tax relief or something or in some form that the adjusted net income is reduced? it seems strange I spend so much money on childcare and still I'm not eligible for 30 hours free childcare
many thanks in advance for any help
tom
I hope someone can help, as I've been struggling to find an tax accountant in London (no answer to various enquiries on websites).
I need to demonstrate my salary is eligible for 30 hours free childcare (https://www.gov.uk/30-hours-free-childcare)
In order to do that specifically the site reads: "If you or your partner have an ‘adjusted net income’ over £100,000 in the current tax year you will not be eligible ".
so I have 2 questions please
1) how do I calculate "adjusted net income" . there is this site https://www.gov.uk/guidance/adjusted-net-income. however in practice which fields of P60 and P11D do i need to use please
for reference
What adjusted net income is
Adjusted net income is total taxable income before any Personal Allowances and less certain tax reliefs, for example:
- trading losses
- donations made to charities through Gift Aid - take off the ‘grossed-up’ amount
- pension contributions paid gross (before tax relief)
- pension contributions where your pension provider has already given you tax relief at the basic rate - take off the ‘grossed-up’ amount
2) what about all money that I spend monthly on private childcare, some 1500£/year for two children, is there any way to account for this maybe as tax relief or something or in some form that the adjusted net income is reduced? it seems strange I spend so much money on childcare and still I'm not eligible for 30 hours free childcare
many thanks in advance for any help
tom