how do I set up childcare vouchers?

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how do I set up childcare vouchers?

Postby mamabel » Wed Jul 09, 2014 9:18 pm

I am currently employed and want to start receiving childcare vouchers - my company has never done this before but seem happy to go ahead as long as i sort it out! Where do we start? Do I have to sign up to a scheme and then get work to pay into it or does work have to set something up first?
thank you
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Re: how do I set up childcare vouchers?

Postby BettyBoo » Wed Jul 09, 2014 10:22 pm

Your company needs to do this not you unless you work in the finance or HR team as the resp usually falls with them. If they need a name of a childcare voucher supplier my company use Edenred.

I'm sure you know but how it works is you and your company are registered and then the allocation comes out of your salary directly to your nanny or nursery so you don't have to pay tax on it. I think it's upto £248 a month.

Hope that makes sense and helps.
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Re: how do I set up childcare vouchers?

Postby Mum2Monkey » Thu Jul 10, 2014 7:46 am

Hello, if you look at the Edenred website which is (I think that's right) there is a brilliant FAQ page which tells you what you need to do as an employer or employee. We recently set my nanny up on there so I could use my vouchers with her and it took 5 mins and she was set up within a day.

In terms of registering your company, as the previous poster says - whoever deals with payrole needs to set it up as whilst they take the money from your gross salary and pay it Edenred, they also need to make the correct adjustments on your payslip.

Oh, and the amount you can put in depends on whether you are a basis rate or higher rate tax payer (government changed it a few years ago, so higher rate weren't getting a bigger saving).

I'd look at Edenred website as it explains everything!