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  • RE: Calculating adjusted net income for tax free childcare / 30 free hours

    Good morning, I have been going round in circles for months trying to establish whether I am subject to The High Income Child Benefit Charge for the financial year 2023-24 and whether I need to complete a self assessment form. Please can you confirm either way? In 2023-24 according to my P60 I earned £50,936.97 (gross) from my employer. I also earned £672.44 on savings interest. My P60 does not mention that £2659.88 was deducted from my salary as pension contributions (as part of a salary sacrifice scheme), which I believe are not taxed until I draw my pension. Does this mean that my adjusted net income is less than £50,000 and that I am not subject to The High Income Child Benefit Charge and do not need to complete a self assessment form? If you are able to confirm simply and plainly either way that would be greatly appreciated. Thank you. Stuart