reduce staff childcare costs
Many employers now recognise that the cost of childcare for a working parent is a major part of their monthly budget. It can also be a deciding factor whether a parent returns to work after having a baby.
Whether it forms part of a staff retention campaign or one to attract new employees, smart employers are now able to offer tax and NI efficient benefits to their employees to help cut the cost of their childcare.
tax and NI efficient benefits
By restructuring the way employees, who bear regular childcare costs, are paid, employers can help them make savings of up to £933 each per year.
The savings arise from making up to the first £243 of an employee’s salary each week month exempt from tax and NI. This amount is paid in the form of a childcare voucher to the employee, who will then use it to pay all or part of their childcare costs.
we do all the fiddly bits
Once your employees have registered with us, we liaise directly with them handling any queries. We run all the documentation required to ensure your scheme complies with HMRC guidelines. Your input will be merely to sign a few forms and a little light filing.
cost neutral to implement
By making childcare vouchers available to all employees, you will save by not paying Employers NI contributions on the voucher amounts claimed. These savings far outweigh the costs of implementing and running the scheme.