Hello all,
im not sure where the majority of the forum are based do let me give a little background into my issue.
In the UK, because the cost of childcare is so high, the government allow payments to childcare provider to be made tax free. The way in which this works, is that I pay money into an online account and HMRC (her majesty’s revenue and customs) top it up.
from their website, they give the following example...
for every £8 I pay into my account, they’ll contribute £2. Or, to put it another way, by the time they’ve topped it up, they’ll have paid 20% of the cost.
Late 2017, the automatic top ups stopped occurring. This meant that I needed to apply for compensation to retrospectively claim what should have been automatically topped up in the first place.
Over the course of the 4 months my claim relates to, I paid £3,385 to my childcare provider. I submitted a claim for compensation and HMRC paid me £677. Their calculation being that this represents 20% of what I paid.
I argue that this isn’t right. Because this is all my money. And there’s no top up from them. if The account had been working properly then I should have only paid in £2708 and then their top up of £677 would have been correct. But because I’ve paid £3385 of my own money, the top up should be made to represent my own money that I’ve spent.
Is anyone still with me? If their payment is correct, then I’m surely out of pocket on a proportion of the money that I’ve paid that hasn’t been topped up?
i argue that the compensation payment to me should have been £845.
Can anyone give their calculations on the above! I’ve come to a maths forum, because I have every confidence in you all to come up with a reasoned calculation!
im not sure where the majority of the forum are based do let me give a little background into my issue.
In the UK, because the cost of childcare is so high, the government allow payments to childcare provider to be made tax free. The way in which this works, is that I pay money into an online account and HMRC (her majesty’s revenue and customs) top it up.
from their website, they give the following example...
for every £8 I pay into my account, they’ll contribute £2. Or, to put it another way, by the time they’ve topped it up, they’ll have paid 20% of the cost.
Late 2017, the automatic top ups stopped occurring. This meant that I needed to apply for compensation to retrospectively claim what should have been automatically topped up in the first place.
Over the course of the 4 months my claim relates to, I paid £3,385 to my childcare provider. I submitted a claim for compensation and HMRC paid me £677. Their calculation being that this represents 20% of what I paid.
I argue that this isn’t right. Because this is all my money. And there’s no top up from them. if The account had been working properly then I should have only paid in £2708 and then their top up of £677 would have been correct. But because I’ve paid £3385 of my own money, the top up should be made to represent my own money that I’ve spent.
Is anyone still with me? If their payment is correct, then I’m surely out of pocket on a proportion of the money that I’ve paid that hasn’t been topped up?
i argue that the compensation payment to me should have been £845.
Can anyone give their calculations on the above! I’ve come to a maths forum, because I have every confidence in you all to come up with a reasoned calculation!