Childcare Vouchers

bednobs | 09:36 Fri 28th Jun 2013 | Business & Finance

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!

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factor-fiction

Best Answer

£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

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factor-fiction

£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.

bednobs

Question Author

damn, they are worth it then - better plod on i suppose. After last month of them taking the money then putting a hold on the voucher (meaning i didn't have the £243 to make up the nursery payment, they've done the same this month! Buggers

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