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W24 - Helping Employees with childcare If you give your employees childcare vouchers, they are currently liable for tax on the cost of providing them but are free from both the employers’ and employees’ NIC. From April 2005, the first £50 a week of the cost of providing the vouchers to each employee will be free from both tax and NICS if: ¨ The childcare voucher scheme is generally available to all your employees; and ¨ Your employees can only use the vouchers to pay for childcare that has been registered or approved. Employers with only a few employees using childcare may find it easier to buy childcare direct from the childcare provider and give the provision to their employee as a benefit in kind. The amount of tax relief and NICs exemption due if they do this is the same as for childcare vouchers and the qualifying conditions are no different. It is likely to be more efficient from an administration viewpoint. You can find out about childcare in your area on www.childcarelink.gov.uk. |
"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice." "Mac is always available to "pick his brains" and has a solution for any problem!" "He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow." "He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership." "There is never anything I do in business or personal finance without first consulting Mac." |
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We take great pride in our service, and would be delighted to invite you for a free 1 hour, no obligation meeting at our comfortable offices. Simply call us on 020 8346 0391 to arrange a mutually convenient time. This web-site was last updated on 17/01/2012 Specialist Dental Accountants for over 27 years. Copyright © 2003-2011 Mac Kotecha & Company. All rights Reserved. The information on this site is for general guidance only. It is essential to take professional advice on specific issues about their impact on any individual or entity. No liability can be accepted for any errors or omission or for any person acting or refraining from acting on the information provided on this site. We can still help you if you're not a dentist. Please click here
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