IMPORTANT CHANGES TO THE CHILDCARE VOUCHER SCHEME APRIL 2011
If you are NOT on a Childcare Voucher Scheme, and are a Higher or Additional Tax Rate Payer, your Tax and National Insurance savings will be reduced.
|Current Scheme Member||New Scheme Member April 2011|
|Tax Rate |
|Weekly Voucher Amount||£55.00||£55.00||£28.00||£22.00|
|Monthly Voucher Amount||£243.00||£243.00||£124.00||£97.00|
|Annual Voucher Amount||£2,916.00||£2,916.00||£1,484.00||£1,166.00|
|Annual Tax and NI Savings||£933,£1225,£1516||£933.00||£623.00||£606.00|
As you can see from the table above as a Higher Tax Earner your savings have been reduced compared to a Lower Tax Earner. You are still entitled to join the Scheme and savings can still be made.
If you were to join our scheme before 6 April 2011 your savings will not be reduced!
HM Revenue and Customs have published a document that outlines these changes.
For more information telephone Blossom Childcare Vouchers 0800 6349687 or email email@example.com