confused!!

[Emmy1987]

Ok so we're trying to work out the whole childcare vouchers thing but have NO idea where to start!

Can someone tell me what childcare vouchers are, how to find out how much you can get/a way of working it out?

It's going wayyyyy over our heads!

 

[edthedog]

Hi Emmy,

Basically you can 'buy' childcare vouchers out of your/OH/both's salaries before you get tax & NI taken off. So in effect you save around 25% of the value of the vouchers.

I think the limit per person is £243 per month so if both you and DH work and both your employers have a voucher scheme then you can 'buy' up to £486 per month of vouchers.

For example, say you brought £200 of vouchers per month, it would actaully cost you around £150 because you have saved money on tax/NI.

Worth checking with your companie(s) to see what they do and also be aware that if, after they take the vouchers off your salary you end up falling below the minimum wage you won't be able to join the scheme.

Hope this helps a bit! xx

 

[Emmy1987]

That's made more sense than everything else I've read today!

 

[poppyred]

How does it work if your self employed?