Tax Token

Tax question on tax free childcare tokens?

I have an option at work to take childcare tokens out of my monthly wage tax free as I will only pay tax after the deduction of the tokens on the reamining amount of my monthly wage. So if I take them tax free and then use them to pay for childcare its all good. However the childcarer is my wife who runs a small business, is it a problem for me to pay her to look after my (our) son? I know she will then have to pay tax on her profits but this will be at a lower rate. I was also wondering if I deducted the correct amount from my salary if I would then drop into a lower tax bracket?

With regards to paying your wife to look after your son, I don’t think that this would be possible. It has to be am ofsted registered childcarer(such as a nanny, childminder or after school club) who you pay to look after your children whilst you are at work. If they are not ofsted registered, they cannot claim the vouchers.

With regards to the tax you would pay on your salary, I think that you would (if you are on the cusp) drop into the lower bracket as it not seen as taxable income. However, I would advise you to check with your local tax office as I am not an expert in this area.

I hope that this helps.

oklahoma tax token from war period 30s,40s,or 50s period

Johnny Lightning MONOPOLY Park Place Pontiac Tempest $8.89 …

Johnny Lightning – Monopoly – Illinois Avenue – ’57 (1957) Chevy Replica (Red) w/Exclusive Bonus Miniature Metal Game Token $17.99 …

United States Sales Tax Tokens & Stamps $49.95 …

U.S. State Issued Sales Tax Tokens $5.99 …

Check List and Guide to Sales Tax Tokens,3rd Edition …