Savings Calculator

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To find out the impact of Childcare Vouchers on tax credits, use HMRC's calculator:

Childcare vouchers and tax credits - better off calculator

The table below will give an indication of the savings available if you take the maximum amount of tax and NI exempt Childcare Vouchers: 

 Status Annual Tax exempt amount Savings
Basic rate (contracted out) 20% tax 10.4% NI £2,916 £886
Basic rate (contracted in) 20% tax 12% NI £2,916 £933
Higher rate in the scheme prior to 6th April 2011 40% tax 2% NI £2,916 £1,225
Additional rate in the scheme prior to 6th April 2011 50% tax 2% NI £2,916 £1,516
Higher rate category 40% tax 2% NI £1,484 £623
Additional rate category 50% tax 2% NI £1,166 £606

As a guide if you earn above £45,391, you are likely to fall into the higher rate category.  If you earn above £151,484, you are likely to fall into the additional rate category.