Qualifying Amount 2nd Element Calculation
Posted: Thu Sep 13, 2018 9:34 pm
Hi All,
Trying to get my head around the Tax elements and I think I have worked out what I need to do in terms of registering for self assessment etc, however I have a conundrum.
Firstly Children came to us in an emergency when we were not approved. We were then approved say 3 months later, now in the guidelines it states to work out the Qualifying amount 1st Element it is worked out pro rata from when you were approved, this is simple and I understand however which date do we use for the 2nd element, is it the same date or the date when we took the children into our care. obviously can make a difference to the number of weeks we should base the calculation on as we would have been receiving allowances etc during the placement and eventual approval.
Help !
Thanks
A* (edited to ensure confidentiality)
Trying to get my head around the Tax elements and I think I have worked out what I need to do in terms of registering for self assessment etc, however I have a conundrum.
Firstly Children came to us in an emergency when we were not approved. We were then approved say 3 months later, now in the guidelines it states to work out the Qualifying amount 1st Element it is worked out pro rata from when you were approved, this is simple and I understand however which date do we use for the 2nd element, is it the same date or the date when we took the children into our care. obviously can make a difference to the number of weeks we should base the calculation on as we would have been receiving allowances etc during the placement and eventual approval.
Help !
Thanks
A* (edited to ensure confidentiality)