- Experts in transitions from other providers
- Fully managed service as standard
- Competitive management fee
- 2 types of childcare vouchers
- Freephone customer care line
- Personal & fully flexible approach
Childcare Voucher Scheme – April 2011 Changes
24th November 2010
We have now been provided with further information from HMRC in relation to the upcoming changes to the childcare voucher scheme. Please find below a link to a HMRC website providing comprehensive information:
http://www.hmrc.gov.uk/thelibrary/esc-qa.htm
We are in the process of updating all parent information brochures to reflect this change and provide employees with all of the information they require when registering for the scheme. We will also be sending out this link to all employees currently registered on the scheme to make them aware of the change.
We are in the process of designing some new marketing material for clients to use to distribute to all staff members to try to increase take-up before the change becomes live.
We are also currently evaluating how the change will impact our processes for new employees registering on to the scheme after 6th April, our main points of consideration are:
- How do we determine whether an employee is a basic or higher rate tax payer – HMRC information states that this cannot be a self-declaration by the employee and records of the assessment must be held by the employer
- How and when will annual reassessments by employers be fed back to us so we can ensure we reduce or increase (if an increase if required) an employees voucher requirements according to their basic earnings assessment for the year ahead. If we are not given this information in time for April 2012 salary cut offs employees could receive too much in the April salary (this could be reduced in their May salary by skipping a deduction).
We will continue to provide updates in regard to the changes and our proposals on how best to handle this change, please contact us if you require any further information.