One of the UK’s fastest growing staff benefits provided by employers is Childcare Vouchers. The reason for their success is that Childcare Vouchers are exempt from National Insurance Contributions so they can help save money for both the working parent and the employer.
However, even greater savings can now be made with the introduction of a new tax exemption from April 2005 that is aimed at encouraging more employers, including those who have never done so before, to help their employees with their childcare responsibilities.
From 6 April 2005 Childcare Vouchers will become Tax and National Insurance exempt for up to £50 per week. This will provide huge savings for both the working parent and employer.
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