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help!!! confused

(6 Posts)
Samantha2014 Sun 28-Feb-16 08:30:27

Hi everyone
I'm new to this childminder stuff, but have to get one now.
How does the childcare vouchers work?
I don't earn enough so I don't pay tax, does that mean I wouldn't benefit from it?
My partner earns more so can get vouchers that way.
I'm confused, don't really understand it
Help please X

LIZS Sun 28-Feb-16 08:41:01

How old is dc? Do you meant the early year funding for 3 & 4 yr olds which is universal or the salary sacrifice schemes via employers?

Samantha2014 Sun 28-Feb-16 08:42:55

I have one that will go before and after school and a two year old.
No it's not funded as I don't qualify for that X

icklekid Sun 28-Feb-16 08:46:02

If you don't pay tax the vouchers have no benefit to you I don't think.

PhoebeMcPeePee Sun 28-Feb-16 13:56:31

Childcare vouchers are a tax relief so your partner should use them but no point in you having them if you don't pay tax

nannynick Sun 28-Feb-16 14:53:51

Your partner could ask their employer if they provide a childcare voucher scheme, not all companies provide this.
Part of their salary would be paid in voucher (so stuff happens about taxes which makes this tax efficient). The voucher is electronic these days and sits in an online account with the voucher processing company.
You use that voucher to part-pay your childcare bill. The voucher takes time to clear (often at least 3 working days) so plan ahead for which bill it needs to contribute towards. If the voucher is issued at the end of the month then it won't pay a bill due at the end of the month, it would need to go towards the following months bill.
There are minimum periods in which someone can be in the scheme, so your partner should look at all the terms and conditions that apply to their particular company scheme. It can also affect bonus, pension and other money related things as it makes their salary lower (known as a salary sacrifice scheme).

Tax Free Childcare launches some time in 2017. You may or may not be better off under that scheme. Comparison
Whilst the new scheme is probably a year or so away, you need to look at it as you don't want to sign up to a scheme to find you are locked in for a year or more to then find the new scheme starts and would be better.

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