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childcare vouchers - which way will save me most?

(4 Posts)
AndWhat Thu 27-Feb-14 11:53:47

Our 6 month old will be going to nursery next month and costing approx £350 a month. Both me and DH are able to claim childcare vouchers up to a max of £243 each.

He gets approx £27k a year and I earn £13.5k. Is it better to claim the full £243 from one of our employers and the other £100 from the other and if so which one?
Or should we split it in the middle and both claim £175?

We aren't entitled to any tax credit help so looking to save as much as we can elsewhere.

vj32 Thu 27-Feb-14 13:54:37

Do you pay into a work place pension or other salary sacrifice? It only makes sense to claim childcare vouchers if you are paying tax, so yes your DH should claim the full amount and you the smaller amount. If you claimed the full amount and are paying into a pension as well then you could end up losing some benefit if you go below the personal allowance. You should do the maths.

LadyKooKoo Thu 27-Feb-14 14:17:50

Is that for full time childcare? If not and there is a chance you could increase the number of days in the future, or, if you are thinking of having another DC in the furture then I would suggest that you both get the maximum and just bank them for later on.

vj32 Thu 27-Feb-14 15:49:50

Banking them for another child won't work in all schemes - the one we use it has to be for a named child and is not transferable to another child. Taking childcare vouchers also reduces your taxable pay which means reducing your entitlement to future maternity pay if you claim them in the test period, so I couldn't just get them for the sake of it.

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