Childcare Voucher Scheme
Our childcare voucher scheme is a great way to make extra tax savings
Are you taking advantage of the childcare voucher scheme?
As a client of Danbro, you have the opportunity to make considerable tax and National Insurance savings by using our childcare voucher scheme. You can save you up to £2392* per annum on childcare costs.
*Subject to individual circumstances
How does the childcare voucher scheme work?
There are limits on the amount of childcare vouchers that you can claim, but essentially we allocate an amount of your salary to pay for the childcare vouchers (known as salary sacrifice). We then pay this amount over to your childcare provider. The benefit of doing this is that the childcare vouchers are tax deductable. I.e. if your weekly gross earnings are £500 and you have attributed £55 to childcare vouchers, your gross taxable pay for that week will be reduced to £445.
So how much of my salary can I assign to childcare vouchers?
Everyone who joins the scheme on or after 6th April 2011, will be able to claim the following childcare voucher amounts providing they have been subject to a basic earnings assessment (one of our specialist advisors will conduct the earnings assessment with you should you decide to join the scheme). The amount you can claim depends on what tax rate you are on.
|Basic Rate||Higher Rate||Additional Rate|
NB: based on £55 per week, you are making a tax and NI saving of around £20 per week.
What costs are involved?
We charge £4 per week or £16 per month for the administration as this is an extra service we provide.
Join the Danbro Childcare voucher scheme today. Call: 0800 731 3178