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Childcare vouchers for higher rate tax payers being reduced

1 reply

birthdaychick · 21/01/2011 11:42

Just had this through at work, has this been reported anywhere?

If you have children under 16 read on...
For more information
please visit
All employees with children up to 15 (16 if they are registered disabled) can currently receive
£243 a month of their salary as Childcare Vouchers free of tax and national insurance
meaning big savings on any registered childcare, from nurseries and nannies to out of
school clubs and activities!
From April 2011, the changes are being restricted for those paying higher rate and
additional rate tax.
? Higher rate tax payers who join the scheme after 6th April 2011 will only be able to receive
£124 a month tax and NI exempt
? Additional rate taxpayers who join the scheme after April 2011 will only be allowed to
receive £97 tax and NI exempt
If you are already part of the scheme before this date, you
will continue to be entitled to £243 a month tax and NI
exempt regardless of the level of tax you pay.
This means that by joining a scheme now you
can make the maximum possible savings!

OP posts:
littleone2008 · 21/01/2011 11:44

Found this fantastic website which explains everything!

www.childcarevouchersapril2011.co.uk

xxx

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