childcare/tax credits and vouchers

Flipped27

HI, we are paying over £100 childcare a week for our 3 children - we have had the new entitlement for this year and we are not getting any help with childcare from Tax Credits - would this mean that we would definitely be better off getting vouchers? Would we need to tell them seeing as we are not geting help from them anyway?

TIA

Clare x

[Deleted User]

http://www.hmrc.gov.uk/calcs/ccin.htm

Put your details in here to check.

If you decide to use vouchers you need to notify TCO of the change in your income as the amount you use towards the vouchers doesn't need to be declared. You would also need to tell them that you no longer pay cash for your childcare and it is paid by salary sacrifice.

busy_mom_2

I have used the vouchers for the last 2 years on my hubby wages and we have been having the maximum amount per mnth, we were saving on average £70 per mnth in tax and NI, didn't do them through my wages because mine are linked to my pension and was advised not to as the amount taken into account would be after the voucher deduction not before.

TotallyBroke

I am actually £23pm worse off a year by going through salary sacrifice childcare vouchers.
You have to declare your lower salary costs and your lower childcare to TCO

busy_mom_2

I don't recieve any working tax credit or help towards childcare so makes me better off, all avenues have to be looked at.