I’m sure you’ve heard rumblings of the proposed changes to tax relief on childcare vouchers – we’ve sent several messages out about it – and now the Government has confirmed that the changes will take effect next April.
The Finance Bill 2011 was released last week and confirms the tax relief for high earners available through childcare vouchers will fall in line with the amount available to basic-rate tax payers - tax relief of up to £900* will still be available to all tax payers on an annual basis following the change.
But our Act Now campaign is urging employers and parents to sign up before 6th April 2011 and take advantage of the current savings available.
If you’re receiving childcare vouchers before April 2011 you will not see a change in the way your savings are calculated.
For more information visit our ACT NOW website.
* Figure based on maximum saving potential in the current financial year. Subject to individual circumstances.