Childcare Vouchers

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dinosaur
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Childcare Vouchers

Postby dinosaur » Wed Apr 23, 2014 2:53 pm

Hello - my DS will start Reception in September. Should I stop my childcare voucher contributions when he finishes up at nursery in July, or are there other ways to use them in the school holidays or with after-school club etc. ?

Does anyone know what happens if I don't stop the contributions and then can't actually use them? Do they just refund the money after taking out the tax?
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mumoftwo
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Re: Childcare Vouchers

Postby mumoftwo » Mon Apr 28, 2014 9:27 am

my husband never got round to cancelling his, so we managing to collect quite a stockpile of them. However we are slowly working our way through them by paying for after school clubs and breakfast club. I have a feeling that if you don't use them at all there is nothing you can do, and in fact one tax adviser said that if you don't use them within the same financial year you lose them, but that doesn't seem to be the case with the scheme we are in.
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balhamwilbur
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Re: Childcare Vouchers

Postby balhamwilbur » Mon Apr 28, 2014 11:16 am

When they are older, you can also use them for PGL holidays and similar schemes which are a godsend if you work. Do check if they have an expiration date though.
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gemima
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Re: Childcare Vouchers

Postby gemima » Mon Apr 28, 2014 3:48 pm

Hi there,
Do you only get these if your employer gives them out?
Best wishes
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Birdie40
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Re: Childcare Vouchers

Postby Birdie40 » Mon Apr 28, 2014 6:36 pm

The ones we get expire after a year - but you just phone up and they reinstate them for you - so not sure what the point of expiry is!!

Whether you carry on paying in I suppose is what you see yourselves doing - having more children that could use them at nursery - after school care etc. As I understand it you can only use it for "care" so you can't pay the dinner money using them etc. I know some private schools allow them to be put towards the fees etc At least it is a tax break of sorts so I would continue paying ... but you don't get the money back if you don't use them.

If your company doesn't offer the scheme, then you should ask the accounts/payroll/finance folk to look into it - it works out better for the company too - as they pay less in NI contributions, so everyone wins !
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Birdie40
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Re: Childcare Vouchers

Postby Birdie40 » Mon Apr 28, 2014 6:37 pm

The ones we get expire after a year - but you just phone up and they reinstate them for you - so not sure what the point of expiry is!!

Whether you carry on paying in I suppose is what you see yourselves doing - having more children that could use them at nursery - after school care etc. As I understand it you can only use it for "care" so you can't pay the dinner money using them etc. I know some private schools allow them to be put towards the fees etc At least it is a tax break of sorts so I would continue paying ... but you don't get the money back if you don't use them.

If your company doesn't offer the scheme, then you should ask the accounts/payroll/finance folk to look into it - it works out better for the company too - as they pay less in NI contributions, so everyone wins !
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gemima
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Re: Childcare Vouchers

Postby gemima » Mon Apr 28, 2014 7:15 pm

Thank you. I'm pretty sure my company don't offer them but I will ask when I go back to work in September!
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Birdie40
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Re: Childcare Vouchers

Postby Birdie40 » Mon Apr 28, 2014 7:19 pm

You should ask now! Takes a bit of time to set up id imagine (or maybe my workplace is just slow at things!) you can have maternity pay go into vouchers too, so paying for nursery when you go back is a bit easier!
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