Contact me on 020 8819 8673 or andrew.cazalet@lidotax.co.uk

Tax Advice services in West London

I have had a few kind remarks on the postcard I created to promote my presence in Ealing Studios.

The picture is below for those who have not seen it.

Ealing_Studios Tax Adviser

As a quick reminder we are pleased to provide tax advice, tax consulting and tax return services as a tax consultant to those in West London – Ealing, Chiswick, Knightsbridge, Chelsea, Fulham, Notting Hill, Belgravia, Bayswater, Kensington, Ladbroke Grove, Marylebone, Barnes, Putney, Richmond, Wandsworth, Kew, Putney and beyond.

The drawing of Ealing Studios is by a very talented friend of ours Stella Swain. She does lots of lovely pictures – mainly sort of like this one. She does business or private commissions and is very reasonable. She can be contacted on   01962 854 275  stella.swain@ntlworld.com www.stellaswain.com

New Toolkit for Childcare Vouchers

Childcare Vouchers are popular with those who work with large employers. They provide a tax & National Insurance free way to provide up £2860 per child to each employee. However largely because of the administration and hassle they are less common with smaller owner managed businesses. If you have children, run a business and pay for childcare (not schooling) please read on…

Under these arrangements an employer can establish a Childcare Voucher scheme which allows you to take up to £55.00 per week or £243.00 per month in the form of a Tax & National Insurance free voucher from their employer. This voucher can then be presented to a childcare provider who may apply to the employer for the voucher to be redeemed for cash.

The potential maximum saving for a higher rate taxpayer is £1,195 per year. For an individual who is liable at the basic rate of tax the maximum saving would be £904 per year. There is an additional saving for the employer of up to £373 being the employer’s national insurance that would otherwise be payable if cash were offered instead.

The main conditions of the scheme are as follows:

  • The child for whom the voucher is provided must be under 16 and be a child of yours who lives with you and for whom you have parental responsibility.
  • The childcare provider has to be registered/ approved with the appropriate authorities. Informal arrangements with relatives are therefore usually excluded unless they can arrange to register. Nannies or au pairs are usually allowed provided they are able to register.

The easiest way to check the provider is approved is to ask them. Alternatively you can telephone 0845 601 4771 or check at this website www.ofsted.gov.uk_

Please be aware that if you are entitled to children’s tax credits you are required to notify HM Revenue and Customs that your childcare costs have reduced. This may reduce your entitlement to tax credits.

We have developed a toolkit of documents that enable you to implement the scheme for a fixed sum rather than the % of the voucher usually charged. One flat sum means you only pay once rather than a % each time.

If you have any questions or want to consider implementing a scheme please do get in touch.

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