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Costs and savings


1. How can employers save money?

Childcare vouchers are NI exempt for employers. This means you can save up to £402** a year in reduced NI contributions for each participating employee.​

 

2. How much does the scheme cost an employer?

The childcare scheme is just one of the employee benefits available on our Salary Extras platform. You can offer childcare vouchers and as many additional schemes as you like, such as mobiles, computers and bikes – all for a fixed monthly fee. You can also integrate existing benefits onto the Salary Extras platform, putting all your benefits in one place.

 

Please contact us to speak to one of our Relationship Managers to find out more information or download our brochure​.

 

3. How can childcare vouchers help to retain staff?

It's the equivalent of giving working parents a pay rise! Plus, offering your employees childcare support can help them with their work-life balance. This can result in increased productivity and reduced staff turnover. Childcare vouchers can also help parents return to work after parental leave. ​

 

4. My company only employs 50 people. Can I still benefit from joining the scheme?

Absolutely! Regardless of the size of your company, or the industry you work in, we can help you and your employees save money. For example, just 20 employees signed up to a scheme you can save over £8,000~ a year in Employer's NI.

 

5. What’s the difference between parents who registered on a scheme after 6 April 2011 and those who registered before this date?
On 6 April 2011, the Government changed the amount of childcare vouchers parents can receive, based on their tax band. Basic rate taxpayers can continue to receive £243 per month but Higher and Additional rate taxpayers are limited to £124 and £110 per month respectively, with the limits being determined by an annual assessment of their pay (called a Basic Earnings Assessment).
 
However, parents who joined before 6 April 2011 can receive vouchers up to £243 per month, regardless of their tax band, as they have something called “protected rights”. Their protected rights will continue providing they remain in their employer’s scheme and they receive a childcare voucher at least once in a rolling 12-month period.​
 
A Basic Earnings Assessment only needs to be completed for parents joining your scheme after 6 April 2011.

 

 

 


 

 

 **Annual Employer NI savings for a Basic rate taxpayer taking the full £243 voucher value. The maximum savings available will be less for Higher and Additional rate taxpayers.
 
~Based on a Basic rate taxpayer taking the full £243 voucher allowance over 12 months.
 

  

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