Childcare vouchers or new tax-free childcare scheme?

[psychocandy]

Currently get childcare vouchers via umbrella. £3 charge and its capped at £28 per week (dunno why).

Now I think I'm right in saying that this gets deducted before employer NI, employee NI, and PAYE. (So that £31 would probably end up about £15 in my pocket).

Much better than new scheme which, I think I'm right, is just an account you set up and the government top up 20%?

So better stay in original scheme? Closed to new users now so you can't leave.

[b0redom]

Currently get childcare vouchers via umbrella. £3 charge and its capped at £28 per week (dunno why).

Now I think I'm right in saying that this gets deducted before employer NI, employee NI, and PAYE. (So that £31 would probably end up about £15 in my pocket).

Much better than new scheme which, I think I'm right, is just an account you set up and the government top up 20%?

So better stay in original scheme? Closed to new users now so you can't leave.

I just paid the legal max direct from my Ltd Company £273 iirc.

[psychocandy]

I just paid the legal max direct from my Ltd Company £273 iirc.

Yeh I used to do that when using limited.

[northernladuk]

I just paid the legal max direct from my Ltd Company £273 iirc.

Currently get childcare vouchers via umbrella

Useful

[b0redom]

Useful

Shut it you!

Might be worth considering if he's a low earner and this makes the difference between it being worth it Ltd vs Umbrella.

[psychocandy]

Shut it you!

Might be worth considering if he's a low earner and this makes the difference between it being worth it Ltd vs Umbrella.

Public sector IR35 so umbrella is only viable option. Beeen there done that with ltd etc etc etc etc etc.

[northernladuk]

Public sector IR35 so umbrella is only viable option. Beeen there done that with ltd etc etc etc etc etc.

Have you asked your employer?

[Craig@Clarity]

Currently get childcare vouchers via umbrella. £3 charge and its capped at £28 per week (dunno why).

Now I think I'm right in saying that this gets deducted before employer NI, employee NI, and PAYE. (So that £31 would probably end up about £15 in my pocket).

Much better than new scheme which, I think I'm right, is just an account you set up and the government top up 20%?

So better stay in original scheme? Closed to new users now so you can't leave.

The £28 is the weekly exempt limit because you're a higher rate tax payer. Under the new tax free scheme you could get up to £500 per quarter and the gov will chip in £2 for every £8 paid to the childcare provider via an online account if you qualify.

[Craig@Clarity]

Have you asked your employer?

Not seen you use this canned response before

[northernladuk]

Not seen you use this canned response before

Have you tried a search?