child care vouchersIs child | AccountingWEB

child care vouchersIs child

The opportunity to pay employees £55 a week in child care vouchers seems to be a potential significant benefit for employees on above average salaries paricularly higher rate taxpayers (I am aware that there are problems for lower paid employees relating to tax credits and minimum wage).

My firm operates several payrolls for SME's and I am considering writing to these firms outlining the potential benefits of such a scheme particularly the use of DIY vouchers.

My question is that despite a 40% taxpayer being able to save in the region of a £1,000 a year in tax using vouchers requests for information from clients appear to have been virtually non-existent. Can anybody inform me whether child care voucher schemes are operating successfully and whether this is a popular benefit?
Alistair Thurlow

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Marilynne |

Don't bother with vouchers

Euan MacLennan |
Euan MacLennan's picture

Don't waste money on bought-in vouchers

anthonyrentoul |

Yes they do operate in practice!

Marilynne |

Not popular

Dougscott |
Dougscott's picture