Quizzes & Puzzles11 mins ago
Childcare Vouchers
2 Answers
hi, i've been receiving these since february this year (salary sacrifice) I am a normal rate tax payer, and sacrifice £243 a month before tax for the vouchers. Is any clever person able to work out for me how much of a saving that would represent for me in a year (assuming 12 pay periods at 234 each time)?
I am just wondering whether they are more trouble than they are worth - i've never had a month when it's been easy or straight forward!
I am just wondering whether they are more trouble than they are worth - i've never had a month when it's been easy or straight forward!
Answers
£243 a month means £2916 a year. Your tax saving is 20% of that = £583.20 I think you also save NI too. I can't remember the exact rates, and I think it'll depend on whether you are contracted in or out, but it's around 9% so that's a further £262 or so.
09:41 Fri 28th Jun 2013