Childcare Voucher Scheme
Queen's University Belfast, in conjunction with Employers for Childcare has introduced, as part of its family friendly initiative, a more flexible way to meet the costs of your childcare, under which part of your wages or salary can be given up or "sacrificed" in exchange for Childcare Vouchers.
In order to apply for the Scheme please download an Application Form and return it to the Salaries Office by the 7th of each month in which you require vouchers. If you have any queries regarding the application process for childcare vouchers please contact Elaine Crawford in the Salaries Office on 02890 973027.
Childcare Voucher Scheme Changes
In accordance with HMRC guidance, the University will apply changes to the Childcare Voucher Scheme with effect from 6 April 2011.
Currently, users have the benefit of tax relief on a maximum of £243 per month, at the rate of tax they pay on earnings. From 6 April 2011, whereas basic rate tax payers will be unaffected by the changes, higher rate tax payers will no longer benefit at the higher rate. Instead, the maximum value of vouchers allowable for tax and NIC relief will be determined by the employer's "basic earnings assessment" (BAE) for each new joiner. Individual employees who join the scheme on or after 6 April 2011 will be contacted directly, with details of their BAE.
The table below shows, by tax rate, the maximum monthly value of vouchers allowable for tax and NIC relief for joiners on or after 6 April 2011:
Basic Rate (20%) £243
Higher Rate (40%) £124
Additional Rate (45%) £110
Full detail of the changes may be found on: http://www.hmrc.gov.uk/thelibrary/employer-qa.pdf
Other useful links:
For further information about the scheme please visit the Employers for Childcare Website by Clicking Here.