Any One Get Child Care Vouchers - HibeesBounce.com

Colr · 08-11-07, 10:13

...through their work?

Care to clue me in to how it works?

**Northern Ireland Hibby** · 08-11-07, 10:15

Quote:

Originally Posted by Colr
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...through their work?

Care to clue me in to how it works?

My wife gets them. Seems that you pay for the childcare with vouchers provided by the state, but the value of the voucher is 10% more than what is taken from your pay.

Fortunately I've two parents and two in-laws who can be paid in bottles of wine and the odd posh meal
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**Briant** · 08-11-07, 15:43

I do it at my work.

The idea is that the vouchers are taken off your pay before tax, so you don't pay tax on them. Depending how much you pay in childcare the tax saving can mount up to a fair few quid in a year. Here is an example from our work. It may be a bit out of date but will give you an idea of amounts involved;

A typical saving for an employee, paying basic rate tax and purchasing vouchers at the maximum £217 per month, would be £816 annually or £1066 for higher rate tax payers.

Hope this helps
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**Sean** · 08-11-07, 21:32

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Originally Posted by Colr
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...through their work?

Care to clue me in to how it works?

Your employer must volunteer to enter the scheme. If you are familiar with the bike to work or computers for work scheme them its virtualy the same, i.e. a salary sacrifice scheme.

Your employers buys vouchers on your behalf and deducts them off your gross salary, the current max is about £280 per month. That way you do not pay tax or NI on that £280 - the tax, NI saving is what you save.

As my wife and I both get vouchers via our work, we save approx £1200 per year - a LOT of cally bash.

If your employer is wee and cannae be arsed, or is a **** like mine was until recently, then there are firms who will run the schem for your employer. Those firms take a cut of your employers savings - your employer saves on tax and NI too, so it is a win win situation, and only the daftest or ****iest of employers say no to the scheme.

The vouchers are mostly electronis (but can be paper) and are normaly transfered directly to your childcare providers account.

Most, if not all the big private childcare providers take them as do a vast number of local childminders.

Its worth badgering your boss to introduce the scheme.

**Northern Ireland Hibby** · 09-11-07, 01:13

^^^

What they said.

Thankfully my other half is better at making sense of these things than I am.

**Livi_hibee** · 10-11-07, 13:27

if any of you claim tax credits, give them a call and you could claim some of your costs through them as well
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Colr · 10-11-07, 13:44

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Originally Posted by Livi_hibee
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if any of you claim tax credits, give them a call and you could claim some of your costs through them as well
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Fat chance.

**Livi_hibee** · 10-11-07, 13:46

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Originally Posted by Colr
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Fat chance.

you can claim up to 80%!!!
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Colr · 10-11-07, 13:49

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Originally Posted by Livi_hibee
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you can claim up to 80%!!!
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Child tax credit thresholds mean that most working couples in London can't claim.

**Livi_hibee** · 10-11-07, 13:50

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Originally Posted by Colr
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Child tax credit thresholds mean that most working couples in London can't claim.

it does depend on your earnings, but not everyone lives in london
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Colr · 10-11-07, 13:52

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Originally Posted by Livi_hibee
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it does depend on your earnings, but not everyone lives in london
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secrateries get 25-30K here. It means parent in the city don't get the help others do. Some weighting would have helped.

**Livi_hibee** · 10-11-07, 13:55

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Originally Posted by Colr
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secrateries get 25-30K here. It means parent in the city don't get the help others do. Some weighting would have helped.

but with the amount of people that claim across the country you cannot have a rule for some and another rule for others, voucher scheme is probably best in your circumstance then.

Colr · 10-11-07, 17:34

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Originally Posted by Livi_hibee
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but with the amount of people that claim across the country you cannot have a rule for some and another rule for others, voucher scheme is probably best in your circumstance then.

You can introduce salary weighting based on location.

Someone working n Wick would be loaded on £50K for example. By not doing so the policy does not meet its objectives of supporting families,making work pay and tackling financial hardship faced by families in many locations.

**Livi_hibee** · 10-11-07, 17:41

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Originally Posted by Colr
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You can introduce salary weighting based on location.

Someone working n Wick would be loaded on £50K for example. By not doing so the policy does not meet its objectives of supporting families,making work pay and tackling financial hardship faced by families in many locations.

good point, i think london is the only place where you get weighting, but thats got nothing to do with tax credits

Colr · 10-11-07, 17:46

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Originally Posted by Livi_hibee
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good point, i think london is the only place where you get weighting, but thats got nothing to do with tax credits

Scrapped for NHS wages recently.

**Livi_hibee** · 10-11-07, 17:50

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Originally Posted by Colr
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Scrapped for NHS wages recently.

Really!!! thats no good really is it!

you wonder what plumb decides these things
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Colr · 10-11-07, 17:51

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Originally Posted by Livi_hibee
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Really!!! thats no good really is it!

you wonder what plumb decides these things
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Its a funny old Labour government. They seem to be getting away with policies the Tories didn't but with the support of Unison.

**Livi_hibee** · 10-11-07, 17:57

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Originally Posted by Colr
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Its a funny old Labour government. They seem to be getting away with policies the Tories didn't but with the support of Unison.

aye its a weird one alright, no wonder our PM decided against an election eh!

Colr · 10-11-07, 18:04

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Originally Posted by Livi_hibee
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aye its a weird one alright, no wonder our PM decided against an election eh!

I was quite impressed with him to start but he'd better pul something out the bag soon. He's not been anything like the radical I had expected.

08-11-07, 10:13	#1
Colr The Radge Doon the Road Join Date: Jul 2002 Location: London Age: 41 Posts: 21,373 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 38	Any One Get Child Care Vouchers ...through their work? Care to clue me in to how it works? __________________ There is a simple answer to every question..........and it's wrong. Einstein

08-11-07, 15:43	#3
Briant Radge Flag Owner and Private Member Join Date: Aug 2004 Location: Leith Age: 51 Posts: 2,688 Thanks: 128 Thanked 117 Times in 76 Posts Rep Power: 10	Re: Any One Get Child Care Vouchers I do it at my work. The idea is that the vouchers are taken off your pay before tax, so you don't pay tax on them. Depending how much you pay in childcare the tax saving can mount up to a fair few quid in a year. Here is an example from our work. It may be a bit out of date but will give you an idea of amounts involved; A typical saving for an employee, paying basic rate tax and purchasing vouchers at the maximum £217 per month, would be £816 annually or £1066 for higher rate tax payers. Hope this helps To view links or images in this forum your post count must be 5 or greater. You currently have 0 posts.

09-11-07, 01:13	#5
Northern Ireland Hibby nihibs.com radge Join Date: Oct 2002 Location: In County Antrim, so I am Age: 31 Posts: 9,344 Thanks: 138 Thanked 68 Times in 42 Posts Rep Power: 18	Re: Any One Get Child Care Vouchers ^^^ What they said. Thankfully my other half is better at making sense of these things than I am. __________________ To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. Never pick another man's pineapple

10-11-07, 13:27	#6
Livi_hibee Mclaren F1 Radge Join Date: Feb 2007 Location: Livingston Age: 23 Posts: 2,061 My Mood: Thanks: 63 Thanked 33 Times in 24 Posts Rep Power: 6	Re: Any One Get Child Care Vouchers if any of you claim tax credits, give them a call and you could claim some of your costs through them as well To view links or images in this forum your post count must be 5 or greater. You currently have 0 posts. __________________ To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.