jaideep211
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Free childcare: Please help in calculating what my adjustable net income is
Hi I am confused about free childcare and adjustable net income. Per my P60 for 2023-24, my taxable income was £110,380 (after deducting the payments into workplace pension). During the year I also paid into private pension in the amount of £7,760. My private pension contribution was grossed up by basic rate of 20% to £9,700. I know I can claim another 20% (£1,940) when filing self assessment. Please advise which of the following calculations for adjustable net income are correct: a) £110,380 - £9,700 = £100,680 b) £110,380 - £9,700 - £1940 = £98,740 If (b) is correct, what document would I need to submit in order to prove the adjustable net income for 15 hour free childcare Many thanks in advance. -
Part salary payment from Mar 2023(prior tax year) received in April 2023 - not reflected in P60
Good afternoon I joined my current employer on Mar 20, 2023 (just before the end of the tax year 2022-23). In addition to salary, I was due to receive a one-time sign on bonus upon joining. The regular salary payment dates are 14th of each month. Therefore, on April 14, 2023, I was paid my regular April 2023 salary. As well, the part salary payment for 11 days from Mar 20-31, 2023, and the one time bonus payment were also paid on the same day. I have just received my P60 for tax year 2023-24 however, it only reflects my regular annual salary and does not capture the one time bonus payment and the part salary from Mar 2023. How do I address this when I go ahead and file self assessment this year? Do I make any adjustments in this years' assessment or request adjustment to prior year? Thanks..! JD