Does anyone know what happens if you change to being a higher-rate taxpayer in the current tax year after receiving vouchers at the basic rate amount? I was on mat leave for half of this tax year (paid just SMP for three months and nothing for three months), so although I'm usually a higher-rate taxpayer, I'm basic rate for this year. I'm due a bonus in March which might well (just) take me back into the higher bracket for the year.
Does anyone know if that then changes my entitlement for the whole tax year? As I'll have had 11 months at £243/basic rate entitlement as opposed to £121(?), would I then owe back half of them? How would that even work?
To further complicate matters, I'm going to switch to tax free childcare so I wonder if I might be better cancelling my vouchers from Feb so I don't have a higher-rate taxpayer month in March!