Wednesday, 7th January 2009

Savings Calculator

Currently, each eligible working parent or legal guardian can receive Childcare Vouchers, which are non-taxable and exempt from National Insurance up to the value of £55 per week (£243 per month).

This calculator gives general guidance only. While this calculation includes Standard Personal Allowances, it does not take into consideration calculations for minimum wage and therefore should not be treated as a complete and authoritative statement of law.


Type your Gross Monthly Income and Monthly Childcare Cost into the boxes and select Update.
Select if you are paid monthly or weekly.
Monthly Weekly
Gross Monthly Income
£

Tax and NI are calculated as follows:

Tax NI
Basic Rate Taxpayer 20% 11%
Higher Rate Taxpayer 40% 1%
Monthly Childcare Voucher value
£
NI Saving £26.73
Tax Saving £48.60
Total Saving £75.33

Employee Saves £904 per annum

For a more illustrative financial calculation, please contact our Customer Services team on Freephone 08000 430 860 (8:00am - 8:00pm Monday to Friday). Alternatively, please click here to contact us by e-mail.

All figures are effective from 6th April 2008.