Have any of you issued Childcare vouchers from your company direct to a nursery?
I'm wondering if it's a straightforward process to follow.
I'm wondering if it's a straightforward process to follow.
-
-
You can simply pay the nursery direct from your limited company bank account.
Keep full records obviously, just to back up the expense in case it should ever be investigated. -
Super, thanks Clare.Comment
-
Can you elaborate on the ability to do this?Originally posted by Clare@InTouch View Post
I have had childcare vouchers when a permie but never thought of this as contractor. especially since my wife and my employer is our ltd company.Comment
-
http://www.hmrc.gov.uk/childcare/smechildcareguide.pdf
Just read this. Very interesting.
If I pay someone 5715/year - so no NICs. Can I then pay the £55 per week and there is still no NICS or PAYE?
And this extra £55 is fully CT deductable.....
However this pushes the Income above the personal allowance, so is PAYE due?Comment
-
my bad...found this...
"If your employer provides you with childcare vouchers you will
not have to pay Income Tax or NICs on the first £55 per week, or
£243 per month. However, if your vouchers are worth more than
this, you will have to pay Income Tax and NICs on the remainder."Comment
-
So my next question.......
Since I would be on low salary+dividends
Is any part of the childcare counted as salary when doing self-assessment?Comment
-
No, it won't touch your tax return. You may want to consider how it effects any tax credits you receive though.Originally posted by prozak View PostComment
-
-
So final question(maybe a dumb one Claire)
You mentioned that we can pay directly from the LTD company. Up to what amount. £55 per week, or more?What happens in General, stays in General.You know what they say about assumptions!Comment
Comment