There are just five short days until the tax treatment on childcare vouchers changes, and we think this necessitates an urgent final call to parents that have not done so, to sign up to a childcare voucher scheme now, or miss out on the higher rate of tax savings.  Parents can be accepted onto the scheme as late as midnight on the 5th of April, by email or even fax. Higher rate and additional rate tax payers will see their savings almost halved from £1195 to £623 if they don’t sign up before the deadline.
Childcare voucher savings. New figures from 6th April 2011.
-         For basic rate tax payers taking £243 per month: a saving of £933 per annum
-         For higher rate tax payers taking £124 per month: a saving of £623 per annum
-         For additional rate tax payers taking 97 per month: a saving of £606 per annum
Time is running out to take advantage of the maximum savings: act now or miss out!