Childcare vouchers

[amelie]

Hi,
we ae thinking about offering child care vouchers at my work and was just wondering what the tax implications are for individuals and does it effect pension deductions etc? The staff also have the opportunity to do overtime.
If anyone is use to dealing with vouchers, I would like to hear from you and any advice would be greatly appreciated!

[EmAngier]

Here's a link to a voucher provider,http://www.childcarevouchers.co.uk/

I have lifted the following from the site which explains some of the e/ee benefits of the system.

Big savings for working parents

Paper or electronic Childcare Vouchers are exempt from Tax and National Insurance for £55 per week, allowing them to be worth much more than paying for childcare by normal methods. As a standard rate tax payer if you elect to take £55 per week of your salary in Childcare Vouchers Direct you could save £916 per year. If you are a higher rate tax payer you could save up to £1,195 per year.

They also have very good information for employers.

You can also find more links by Googling 'Childcare vouchers' and there are government sites there as well as providers.

I hope this helps

Em

[amelie]

Many thanks for that info!