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Child care
Budget 2013 – Tax-Free Childcare Scheme
In an announcement ‘leaked’ before the Budget, the Government announced that it will support working families by giving 20% tax relief on the first £6,000 of childcare costs. The maximum tax relief will be £1,200 (i.e. 200% of £6,000) and will begin from autumn 2015. This will, eventually replace the current Employer-Supported Childcare schemes, though [...]
Pensions Bill 2011, HMRC Interest Rates on CIS Returns, Disguised Remuneration Technical Guidance, Update on Employer Guidance for Childcare, Pensions Act 2011, RTI – ‘What HMRC did next’, Universal Credits
With the clocks having gone back and days becoming increasingly darker and colder, I feel that we are well and truly on the way to Christmas and the Autumn Statement on 29 November! This week’s FAQ follows the Statutory Payments theme from last week’s question and deals with the issue of requesting advance funding from [...]
Guidance and FAQs on Employer-Supported Childcare
In August, we advised that HMRC had issued revised and updated guidance for employees and employers. This was in the circumstances that employer-supported childcare was directly contracted or provided by way of a voucher scheme. We have been communicating with HMRC regarding the following statement in the employer guidance, page 6, paragraph 3: ‘You must [...]
HMRC guidance on provision of childcare and childcare vouchers
Guidance for employees in booklet IR115 updated. HMRC has updated and reissued booklet IR115 Paying for childcare – getting help from your employer to include the new tax exemption rules for the provision of childcare vouchers. The guidance for employers in Helpbook E18 and in the Employment Income Manual was also updated in September. Further [...]
HMRC guidance on provision of childcare and childcare vouchers
HMRC’s Employment Income Manual has been updated to cover recent statutory changes to the provision of employer-supported childcare. HMRC provides guidance for its own staff on all “employment income” matters in the Employment Income Manual. It is a technical manual and comments on the tax legislation itself. It is published online and is available for [...]
Further changes to the definition of ‘qualifying child care’
Sections 270A and 318A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA) provide limited tax exemptions for the provision of childcare vouchers and employer-supported childcare. One of the conditions that must be met in order for these exemptions to apply is that the childcare must be “qualifying child care”. The definitions of “qualifying [...]
