Has anyone administered their own Childcare voucher scheme?

CathyH27

Hi, My daughter starts nursery soon and as a employee of our own limited company I am looking into childcare vouchers. I have seen that you can do your own company scheme and so not have to pay the 7% administration charge management companies charge.

Has anyone done this? Can you give me any tips or insights?

It would only be me that would use the scheme as all our other employees either have grown up children or are dedicated single lads!

Thanks for any help you can offer x

lalamb77

I am in the same boat as you and have been looking into this. It seems if only one or a few employees use childcare the easiest method is to have a direct agreement between the limited company and childcare provider- which can be by letter. This link explains things better and gives an example letter:

http://www.hmrc.gov.uk/childcare/smechildcareguide.pdf

The money is then paid by the company direct to the provider and comes out of the business account as an expense.

Here is another interesting discussion about this method:

http://www.ukbusinessforums.co.uk/forums/archive/index.php/t-114369.html

I don't know if this is any good for you?

CathyH27

Thanks that other discussion is great! So simple to sort on your own by the looks of things - Ill ask at the nursery this afternoon when I pick up little'un if they have a standard process x x

Thank you very much x

cfnc

Hi, I operate a salary sacrifice scheme for the company I do the payroll for. It is quite easy to do, you need to have an agreement in place and this can be verified by the Inland Revenue for piece of mind. If you need any further insight or help then feel free to ask me.

Kirsty

CathyH27

Thats what I would do as it would come out of my husbands wage slip. So the agreement needs to be in writing between my husband and the company itself? and then just a normal direct debit and maybe a covering letter to the nursery driect from the business