Does anybody know anything about childcare vouchers?

[KathH]

Currently I earn £18,000 dh earns approx £20,000. We have 4 children & pay £150 per week childcare. Dh has been offered the chance of childcare vouchers. Are we better off going for this or should we stick to paying cm cash where we get £110 per week WFTC. Does anyone have any views? Worringly I work at an accountants and our tax manager had no idea

There is a calculator on the accor website which will tell you how much money you will save using vouchers. Accor website is www.childcarevouchers.co.uk - go to the Parent section. Link to the calculator is on the right hand side.

Have no idea how WFTC works and whetehr you can still get it plus the vouchers or whether it goes down or whatever...but accor website is quite comprehensive.

thanks will try that website

This would indicate 'no'

We had it easy - we both get vouchers, and we save more than we get in tax credits, so we could take them in the confidence that even if they wiped out our tax credits, we'd be better off. Otherwise, horribly confusing.

That would be 'no' as in 'no, you shouldn't take them'.

If you are getting some of the costs through working tax credit you usually find you are better off that way or at least no better off than taking the vouchers. Look at the HMRC website I sure you can download leaflet from there.
If you take the childcare off your tax credits your income would likely mean you'll only get about 10.50 a week (roughly although maybe a bit more with 4 children) so you would have to be saving about £100 in tax before you would save anything and as I think you can only get £50 a week in vouchers wouldn't work.

If you are receiving WFTC then it is highly unlikely that you will benefit more from the vouchers than from the tax credits. You cannot receive both.

thanks everyone - think I'll stick to the tax credits!