Childcare Vouchers & The Living Wage
Nobrain · 07/04/2016 14:16
Is anyone else having the amount of childcare vouchers they can buy reduced?
Just found out that I can now only get £120 a month instead of £243
This is because to take the full amount will take me under the living wage. Currently panicking as I never even thought about this until HR just told me.
Cindy34 · 09/04/2016 09:09
That does sound right. Childcare vouchers are a salary sacrifice and thus can you can not end up with pay (after voucher deduction) being below NMW or NLW, whichever applies.
So you will be losing the tax and NI benefit on £123. How much difference to your take home pay has that made?
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