Childcare vouchers and higher rate tax cut-off

DRichards

I'm confused! I understand that higher rate tax payers are only eligible for childcare vouchers up to £124pcm, instead of the £243pcm that basic rate tax payers are entitled to.

On the Childcare vouchers website it says 'if you earn above £45,391, you are likely to fall into the higher rate category'. Does this mean an individual earning below £45k can claim £243pcm in vouchers?

I like to think that I'm pretty clued up about financial matters, but trying to work out my family's finances once I return to work after maternity leave is proving trickier than I anticipated...

Thanks in advance for your help!

Stroller133

The 45k figure will assume you have no taxable benefits. Most likely example is a car. If you received a mid range car and free fuel that could have BIK value of about 9k, so then if you only earned above £36k you would be a higher rate taxpayer.

DRichards

Thank you for your response!

As far as I'm aware, teachers have no taxable benefits...? So, if the employee's gross annual salary is around 44.5k, they should be eligible for the £243 vouchers?