Q: How does my organisation save money?
A: Click here for further information.
Q: How much does the scheme cost an employer?
A: Each payroll Computershare Voucher Services take a percentage of the total voucher value order as a service charge. However, you also save on your employer NI contributions.
Q: How can childcare vouchers help to retain staff?
A: It's the equivalent of giving working parents a payrise! In addition, offering your employees childcare support can help achieve an effective work-life balance, which promotes a positive work culture and in turn can lead to increased productivity and reduced staff turnover. Childcare vouchers can also help parents return to work following maternity leave.
Q: My company only employs 50 people. Can I still benefit from joining the scheme?
A: Absolutely! Regardless of the size of your company, or the industry you work in, Computershare Voucher Services can help you and your employees to save money. The running of the childcare voucher scheme requires minimal administration from your staff. For example, with just 20 employees signed up to a scheme your organisation can save over £8,000~ a year in Employer NI.
Q: How do I market the scheme to my employees?
A: We help you with the initial launch of the childcare voucher scheme to your staff and provide you with a comprehensive range of marketing materials to repromote the scheme on a regular basis. Our marketing materials are available in different formats and are designed to reach all types of employees, in all types of working environments. These can be requested via the Account Management team.
Q: Will I receive on-going support once we've launched the scheme?
A: Yes. After the initial launch and marketing of the scheme we will work with you to maintain the profile and the awareness of the scheme. Depending on your requirements, your Account Manager will also work with you to develop a 12 month marketing/communications plan detailing re-promotional activity and taking into account any special days, events, maternity sessions etc. At the end of the first 12 months of the contract we will review the plans with you in readiness for the following 12 month period of the contract. There is no additional charge for this ongoing support.
Q: Can you provide any management information or reports?
A: We will be happy to discuss any requirements you may have.
Q: Do I need to complete a P11D form?
A: No, because this is a salary sacrifice scheme handled through payroll, not a benefit in kind
Q: Do I need to keep a record of parent orders on file as the Employer?
A: No, Computershare Voucher Services offers a full administration service, ensuring that we will keep records of all parent orders inline with all HMRC requirements on your behalf. Copies of these records can be provided at your request.
Q: What are Computershare Voucher Services' sign up requirements?
A: In order to comply with HMRC requirements the minimum sign up is one pay period. However, in our experience, employers find it beneficial to stipulate that their employees' sign up for a fixed period (for example, 12 months).
Q: Can employees refund their vouchers?
A: Refunds are possible on unredeemed vouchers with the express permission of the employer and must be refunded back via the employee's salary.
Q: If I have a complaint, what should I do?
A: Computershare Voucher Services Limited take complaints received, whether verbally or in writing, as a very serious matter and endeavour to ensure that a complaint is rectified to a satisfactory standard as quickly as possible.
Please click here to download our Complaints Policy document.
Q: What happens to parents registering on a scheme after 6 April 2011?
A: From 6 April 2011 changes to the legislation around the Governments popular money-saving childcare voucher scheme will come into effect. Basically savings made by Higher and Additional rate tax-payers taking childcare vouchers as part of a salary sacrifice scheme will reduce, and any working parent joining a childcare voucher scheme after this date will only benefit from tax relief at the basic rate i.e. 20%. This means Higher and Additional rate tax-payers will receive around £11 per week of tax relief on their childcare voucher order – the same as Basic rate tax-payers.
However, if they join a scheme before 6 April 2011, they will continue to save at the current level of around £22 a week of tax relief. This equates to a saving of up to £1,196* a year in tax and NI contributions - and they will continue to save this amount after the changes come into effect, providing they have registered before 6 April 2011.
Q: What if a parent registers before 6 April 2011?
A: The changes to the scheme won't affect those Higher and Additional rate tax-payers who have registered on a childcare voucher scheme by 6 April 2011.
Q: How do the changes affect Basic rate tax-payers?
A: The changes to the scheme won't affect those higher and additional rate tax-payers who have registered on a Childcare Voucher scheme by 6 April 2011.
Q: NI is due to increase on 6 April 2011. How does this affect me and my employees?
A: Employer and employee NI will increase by 1 per cent from April 2011. As you are aware, for every parent that joins the scheme, you save on your NI contributions, so your savings will also increase proportionately. The same goes for your employees as their childcare vouchers are exempt from tax and NI. For example, a Basic rate tax-payer taking the full £243 allowance will see their annual savings increase to £933*.
Q: Where can I find out more?
A: Below are links to relevant documentation issued by HMRC which you may find useful: http://www.hmrc.gov.uk/employers/employersupportedchildcare.pdf
http://www.hmrc.gov.uk/leaflets/ir115.pdf
http://www.hmrc.gov.uk/thelibrary/esc-qa.htm
*Figures quoted are the maximum available savings for a Basic rate tax-payer. Higher and Additional rate tax-payers may save around £600 a year. The savings you make will depend on your circumstances.
~Based on a Basic rate tax-payer taking the full £243 voucher allowance over a 12 month period.