HMRC says several commercial schemes are exploiting tax exemption aimed at employers who provide nursery placesWorking parents who are saving as much as £10,000 a year on their nursery costs could be hit with unexpected tax bills because of a clampdown on the misuse of a childcare “benefit” offered by some employers.HM Revenue and Customs has turned its sights on some workplace nursery benefit schemes which allow employees to pay the fees out of their pre-tax salary, resulting in them making big savings on income tax and national insurance. Continue reading…
Source link : https://www.theguardian.com/money/article/2024/jul/19/parents-saving-up-to-10000-in-nursery-benefits-may-face-unexpected-tax-bills
Author : Rupert Jones
Publish date : 2024-07-19 06:00:33
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Parents saving up to £10,000 in nursery benefits may face unexpected tax bills
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