Childcare vouchers if self-employed?

[BrummieOnTheRun]

I have set up my own Limited Company. I won't be drawing a salary for a while, but when I do, does anyone know if I can set up my own voucher scheme?

My previous company just did this direct with the nursery and deducted the nursery payment from my salary pre-tax. Any reason why I couldn't do the same?

you don't need a voucher scheme you can set up a standing order from your business a/c to the nursery. in short, yes you can be a generous employer and give yourself the £243 every month. your accountant should be able to advise you.

I don't think you can

The vouchers are for employed people only (AFAIK)

Sorry

Oh so will you be a director or an employee or both (that could work actually) - aren't you clever

Mind you, won't the Co tax be more that your personal tax

I'm technically self employed and can't make use of the voucher scheme - it is absolutely farking bonkers IMHO. I can only assume they think it is too open to abuse if self-employed people can "self certify" but it is just pants.

But if it's a ltd co she isn't S/E, is she?

But the company tax might make the vouchers not worth claiming for (iyswim)

yes, i'll be the only director and employee.

good point about company tax, Katymac. it's about the same rate as the basic level of income tax (21/22%) but you only pay it on profits.

sooooo, let me get this right. if I take a low salary out of the business , and pay the portion of the nursery fees out of that under the standard salary sacrifice scheme then that should be ok, shouldn't it?

it doesn't sound like a stupid question to ask the accountant, then, however i'm sure they'll have thought of a way to stop people doing it out of sheer evilness.

meanwhile, my chauffeur fees will be totally tax deductible LOL! Anyone know any chauffeur-nannies. How about limosines converted into creches? Would those count?

Re chauffeur/nannies - you could get a couple for an astronomical sum a month!

For limited company yes you can do this. DP and I are both self employed status so can't claim it 'twice' iyswim. As long as you pay yourself a salary and TAX BY PAYE monthly (info from one of the main voucher providers), not on a tax return at the end of year, you can get both the employer and employee perk from the voucher.
DP and I are currently self employed status not Ltd co, but I have recently taken this non-eligibility-for-vouchers up with my MP and it is currently being taken by her (my mp is female with kids hurrah for this issue) to ministerial level this very month.
I wasn't going to post on mn about this until I have the ministerial response but wanted to reply to this OP. There is a procedure to be followed for complaining about tax etc issues and MP to Minister is the first stage.
I will be putting a thread on when I get the treasury minister's response and probably asking all self employed mnetters or those with self employed DPs for help with any further action I need to take!
Watch this space!

I thought company tax was 19% on all profit whereas personal tax is 21% (or 22%) but with a tax free allowance

So unless your company makes loads of money, I can't see it being cost effective

But there maybe a perk/situation/circumstance i don't know/understand

My gut feeling is that Vouchers are only for Class 1 NICs payers. With your own limited company, what class/classes NICs will you be paying (2 and possibly 4 I think).

I would suggest you get professional advise regarding this, looks as though it may get complex.

All I know is that the money I am paid for 2 sisters (I'm a childminder), is paid direct from their company account to mine. They own their own company but don't know the ins and outs

we couldn't POSSIBLY have nice simple tax and rebate systems could we?

after all, none of us have anything better to do with our time than work this stuff out. and what would all those nice accountants do without an extra 1,000 pages of tax law to deal with each year.

I HOPE TO GOD that dear old Gordon Brown and his missus are having to deal with the red tape he oversaw. But that doesn't happen in the real world, does it?