Originally posted by Greg@CapitalCity
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Reply to: Best way to pay child care costs
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Previously on "Best way to pay child care costs"
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Originally posted by Greg@CapitalCity View PostSorry Notascooby, I missed the context. With your two enterprises you can take childcare vouchers from each.
thanks
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Originally posted by speling bee View PostWhat surprises me is...
I assumed that £243/month was a limit as an individual, not a limit per employment taht can be taken multiple times.
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Originally posted by Notascooby View PostGreg - the context was around if I started a company that I used as a vehicle to manage a portfolio of buy-2-let such as notascoobyletting ltd. I could invest from notascoobyconsulting ltd into this new company in order to utilise the war chest in a long-term investment.Last edited by Greg@CapitalCity; 13 November 2012, 10:01.
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Originally posted by Greg@CapitalCity View PostA well known UK tax advisor runs 3 separate companies for his different enterprises - and although he doesn't, the fact remains he could claim childcare vouchers from all three. Having said that setting up a three companies specifically for getting tax free childcare vouchers sounds shambolic.
Then if I were a Director of both companies, I would in effect be entitled to child care and other entitlements from both companies.
I'd certainly not go to the trouble of creating multiple companies for the sake of a saving that would probably be less than the accounting cost of running it.
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Originally posted by Greg@CapitalCity View PostEmployees of umbrellas are entitled to childcare vouchers, as are directors of PSC's. The practicalities however might paint a difference picture.
I assumed that £243/month was a limit as an individual, not a limit per employment taht can be taken multiple times.
Because if the latter, it may well be worth looking to pay you missus (even if she works) a sum in childcare vouchers, for bookkeeping, website maintenance, business case development and updating, mail / emial handling, contract serach and management.
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Originally posted by speling bee View PostBut couldn't you direct some income to yourself via a brolly? And take it as vouchers?
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Originally posted by Greg@CapitalCity View PostA well known UK tax advisor runs 3 separate companies for his different enterprises - and although he doesn't, the fact remains he could claim childcare vouchers from all three. Having said that setting up a three companies specifically for getting tax free childcare vouchers sounds shambolic.
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Originally posted by Notascooby View PostIf you formed 3 companies and took a salary from each (all very low etc) would you be able to claim the £243 from all of them?
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It's not £243, it's £124 if you are a higher rate taxpayer.
But you can accumulate childcare vouchers within one tax year, so during summer holidays you can save them up for term time.
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Originally posted by Notascooby View PostI was thinking something similar yesterday whilst of for a run...
If you formed 3 companies and took a salary from each (all very low etc) would you be able to claim the £243 from all of them?
Obviously there would be accounting overheads etc etc and need for income but would it be alllowed?
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Originally posted by jmo21 View Post- continue with salary as is, pay £243/month as an expense, and the difference from personal funds.
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I was thinking something similar yesterday whilst of for a run...
If you formed 3 companies and took a salary from each (all very low etc) would you be able to claim the £243 from all of them?
Obviously there would be accounting overheads etc etc and need for income but would it be alllowed?
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Originally posted by IR35 Avoider View Post£500 a month for two? Don't tell my wife, she's paying £1250 a month for one. (Five days a week, max hours each day, on the edge of City. Though I've read of a nursery on the Isle of Dogs where it is £1400 for 4 days.)
Includes a 10% 2nd child discount and government subsidised 15 hours per week for my daughter as she turns 3 soon
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£500 a month for two? Don't tell my wife, she's paying £1250 a month for one. (Five days a week, max hours each day, on the edge of City. Though I've read of a nursery on the Isle of Dogs where it is £1400 for 4 days.)
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