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Paid childcare

Discuss everything related to paid childcare here, including childminders, nannies, nurseries and au pairs.

Adjusted net income and bonus

5 replies

MolsIH · 30/08/2023 14:57

Hi ladies
My hubbies adjusted net income is £99k as my husbands salary exceeds £100k and we stay below with pension contributions

he’s just found out he’s getting a £16k bonus… (not subject to pension contribution at work)

Do we need to pay £15k into a private pension pot to stay below the threshold for our 30free hours?

because we don’t get the full £16k as will be subject to a 40% tax???

We don’t have £15k to put into a private pension pot…?

OP posts:
Are your children’s vaccines up to date?
Farfarfarfarfaraway · 30/08/2023 15:04

I don’t know the answer but following!

Dodgygeezer · 30/08/2023 15:13

My employer allows me to salary sacrifice to pension all bonus payments.

see if his will do the same?

MolsIH · 30/08/2023 15:21

I’ll ask!!! Thank you

OP posts:
OhamIreally · 31/08/2023 03:12

Another fiscal drag policy. This one not updated for six years.

Like the child benefit policy which hasn't been updated in over a decade and probably never will until it ends up just another means tested benefit.

Sorry OP not what you asked.

Cupcakegirl13 · 31/08/2023 05:33

Yes it’s gross and not net which is unfair I agree as you rightly say you won’t have that amount , but your husband will need to complete a tax return to ensure he receives the tax relief back.

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