An additional 750,000 people are set to become higher-rate taxpayers in April, according to The Institute for Fiscal Studies (IFS). At the same time, the regulations around childcare vouchers will also be changing, meaning that higher-rate tax payers who sign up for a voucher scheme after 5th April will no longer be able to claim the current level of savings from this vital tax-deductible benefit.
This sudden jump in the number of higher-rate tax payers adds even more weight to what we have been saying lately: higher-rate tax paying parents need to sign up for a childcare voucher scheme before the 5th of April in order to benefit from the maximum possible savings. Moreover, employers should really enrol their employees in one of these schemes before March 21st in order to give them  the best  chance to realise the full potential of this important benefit.
The BBC goes on to report that the average household will be £200 a year worse off as a result of the benefit cuts and tax rises taking effect on 5th April. Unfortunately, all of these changes seem to be progressively stripping UK households and families of their hard-earned cash in the midst of some particularly difficult economic times.
As such, we urge working parents and the employers who care for them to think ahead, and act now to secure the greatest tax benefits possible for everyone – before it’s too late.