Information for Employers
Utilising a Government Initiative, parents are allowed to receive up to £243 of their monthly salary as a childcare voucher, equivalent to £55 per week.
The benefits are:-
1, Childcare vouchers are exempt from income tax and National Insurance.
2, Childcare vouchers don't attract Employers NI contribution so save employers up to 12.8%.
3, They are aditional to the Child Care Tax Credit system.
Will It create extra work for me?
No its simple. We send an invoice each month (or weekly if you prefer). Once cleared funds are received, we issue vouchers to parents and pay the childcarers directly on request.
We accept payments by Cheque, BACS or Direct Debit.
From an accounting perspective. Childcare vouchers are treated as a pre-tax deduction which is simple to execute through any payroll system.
An example:
An employee wants £100 of their salary as a Childcare Voucher.
At the begining of each month, we invoice the Employer.
Once cleared funds are received, the childcare vouchers are distributed to the Employer or Employee on the required date.
HOW DO EMPLOYEES RECEIVE THEIR VOUCHERS?
Childcare vouchers are sent electronically or in paper format.
They are sent to the employer to distribute, directly to the employee or even to the childcarer directly.
HOW MUCH WILL AN EMPLOYEE FINANCIALLY BENEFIT?
Anything up to £1195 per parent per year dependant upon whether they are a basic or higher rate tax payer.
WHO PAYS VOUCHERS 4 KIDS?
We charge an administration fee which is less than the savings in employers NI. A real win-win situation. The Employers gross salary bill will still be less than before.
For more information on specific circumstances call (01254) 695178
OR E-mail: info@vouchers4kids.co.uk
