Archive for November, 2010

Winter Weather

Tuesday, November 30th, 2010

Please note that during the cold weather we aim to be open as usual. If in extreme conditions we need to close early, we will post a notice here.

Time to act on Childcare Vouchers

Thursday, November 18th, 2010

Childcare Vouchers are a great employee benefit for all sizes of company, yet many businesses haven’t found the time to get a scheme in place. With the Government planning to reduce the level of tax relief on Childcare Vouchers for higher and additional rate tax-payers who sign up after 6 April 2011, now is the perfect time to act!

The planned tax changes means some working parents could lose around 50% of the tax and NI savings that are available to them today and could potentially miss out on up to £1196 in tax and NI relief if they sign up to a voucher scheme after April*. If they sign up before April they will continue to save on their registered childcare costs at the current levels. 

Higher or Additional rate tax-payers
If you don’t belong to a Childcare Voucher scheme, look into it quickly! If the proposed changes come into effect, most parents would need to have placed a voucher order in their March 2011 payroll to ensure they meet the 6 April 2011 deadline.
If they start using vouchers before 6 April 2011, they would save at the current level of around £22 per week of tax relief, equating to a saving of up to £1,196* a year in tax and NI contributions. They would continue to save this amount after the proposed changes come into effect, providing they have registered before 6 April 2011.But if they register after 6 April 2011 they could see their tax and NI savings drop by up to 50%*.