Stopping Childcare Vouchers £?

[370tox]

I currently use the old style childcare voucher scheme and pay the higher rate tax.

But I no longer need the vouchers - how much cash will I get in my salary...? Voucher scheme peeps were a bit clueless... :(

How do I work it out??

I think the max saving for those in the scheme prior to 6th April 2011 was £1400.

With changes in income tax and NI rates that saving may or may not be the same now.

Will you never need to use childcare vouchers (or future funding schemes) in future?

Go to the listentotaxman website. Put in your salary details and it will tell you.

www.employeebenefits.co.uk/issues/june-2010/buyers-guide-to-childcare-vouchers-june-2010/

This says £1487 was max saving.

If you get £243 of voucher per month, could you take your base salary, add on £243 and then run the gross salary through a PAYE calculator such as ListenTotaxman to see what your new net monthly amount would be?

Found something: £1195 was max saving for someone who is Higher rate, in 2008.

www.moneywise.co.uk/news/2008-05-06/claim-your-childcare-vouchers

Does your payslip show the salary sacrifice deduction? If so then putting the gross figure without the deduction into ListenToTaxman along with your tax code, may well give you the result you are needing, as it will show NI and Income Tax based on the full gross salary.

Thanks that's all helpful...

More money-yay!