At Price Hill & Co Limited, we aim to maximise the take home pay of our clients. We use different mix of tax strategies to ensure that our clients take advantage of all legally available expenses and allowances.
By including legitimate business expenses, it is possible to reduce the tax burden and increase the take home pay.
If the Employer (Limited Company) gives the employee (The consultant) childcare vouchers, the first £55 a week is free from both tax and NICs if the qualifying conditions are met. Any associated childcare voucher administration costs are also exempt. The qualifying conditions are that:
Your employees (the Consultant) can only use the childcare vouchers to pay for childcare that has been registered or approved;
The child :
is a child or stepchild of the employee at whose expense, either in full or in part, the child is maintained; or
is resident with the employee and for whom the employee has parental responsibility;
qualifies up to 1 September after their 15th birthday (or 1st September after their 16th birthday if they are disabled); and
Your childcare voucher scheme is generally available to all of your employees where the scheme operates.