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Please explain childcare vouchers!

(4 Posts)
BrollyDolly Thu 12-Oct-17 18:31:10

Hello

So my work is in the childcare voucher scheme. I’m assuming I will be able to claim £243 per month.
If I have understood correctly, they will deduct £243 from me every month before tax and NI.
For example I earnt £2367 before tax and NI in my last working month. If I need to pay £400pm childcare, how much is this going to save me over a year? I assume I put the rest of the cost out of my remaining wage.
Thank you smile

OP’s posts: |
Shenanagins Thu 12-Oct-17 18:36:08

C£900 per year if you take the full amount of £243.

BikeRunSki Thu 12-Oct-17 18:37:44

That’s Brolly. It saves about £70/month in tax.

BikeRunSki Thu 12-Oct-17 18:40:58

Both parents can join the CCV scheme. In DH’s case, he set it up for his employer. So the cost of childcare above the £243 of yours, could come from your partner (assuming they are working) . Obviously, above that just needs to come from salary.

PS - it gets much cheaper when they are 3.

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