What are the potential savings?
Employers could save up to 12.8% (on vouchers up to the value of 55 per week or 243 per month). Examples of potential Employee Savings – A parent decides to sacrifice the following amount in exchange for childcare vouchers 33% 31.4% 41% 55 per week 17.05 per week 16.17 per week 22.55 per week 243 per month (55 pw equivalent) 75.33 per month 71.44 per month 99.63 per month The 55 per week (243 per month) tax & NIC exemption is per employee not per child of the employee, therefore both parents can purchase childcare vouchers and avail of the savings. Examples of potential Employer Savings Individual employee receiving 243 per month in childcare vouchers • Employee could save up to 99.63 per month (1195.56 per annum) • Employer could save up to 31.10 per month (373.20 per annum) 10 employees each receiving 243 per month in childcare vouchers • Employer could save up to 311 per month (3732.
Employers could save up to 12.8% (on vouchers up to the value of 55 per week or 243 per month). Examples of potential Employee Savings – A parent decides to sacrifice the following amount in exchange for childcare vouchers 33% 31.4% 41% 55 per week 17.05 per week 16.17 per week 22.55 per week 243 per month (55 pw equivalent) 75.33 per month 71.44 per month 99.63 per month The 55 per week (243 per month) tax & NIC exemption is per employee not per child of the employee, therefore both parents can purchase childcare vouchers and avail of the savings.
