ClariCare Limited, Clarendon House, Greenstiles Lane, Swanland, Yorkshire, HU14 3NH. Registered in England and Wales, No: 6520149. VAT Registration No: 931 4291 38

01482 633 044

info@claricare.co.uk

Your trusted and reliable childcare voucher provider

How much can I save?

 

Below is a table showing the savings you could make by using ClariCare Childcare Vouchers,

 

Please note, if you are claiming Working Tax Credit or you are earning the minimum wage see further information below

Child Tax Credit and Working Tax Credit

Choosing childcare vouchers may have an impact on your eligibility for CTC. Will you be better off accepting Childcare Vouchers in return for a salary sacrifice or claiming tax credit help towards your childcare costs?

 

· Families will always benefit from taking a tax and NIC free voucher if it is offered to them on top of their salary.

 

· Generally families will benefit from taking childcare vouchers when the amount of their qualifying childcare costs are greater than the current childcare limits (£175 a week for one child, £300 for two or more children.)

 

· Generally, families who are receiving tax credits at the family element or less when they are claiming for the childcare element in Working Tax Credit (£545 or less) will gain from claiming the tax and NICs exemption.

 

· Generally, families who are receiving tax credits at a level greater than the family element will not gain from claiming the tax and NICs exemptions unless the person offered the Childcare Vouchers is a higher rate tax payer.

 

· Families receiving Childcare Vouchers from their employers cannot then claim the childcare element of Working Tax Credit on the same costs.

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