EXCLUSIVE: 93% believe childcare vouchers are best tax-efficient benefit

Childcare vouchersEXCLUSIVE: The majority (93%) of respondents feel that childcare vouchers are the most popular tax-efficient benefit offered by their organisation, according to the Employee Benefits/Xerox HR Services Benefits research 2016, published in June 2016.

The government’s tax-free childcare scheme, aimed at replacing childcare vouchers, will be phased in from 2017, with the current scheme remaining open until April 2018 to support the transition between the two.

Those benefits exempt from the government’s suggested plans to limit salary sacrifice arrangements, such as pension contributions (72%) and bikes for work (78%), also feature in the top three tax-efficient benefits offered by respondents via a salary sacrifice arrangement. Meanwhile, more than a third of respondents provide holiday trading (36%) and give-as-you-earn and payroll giving (37%) in this manner, with 17% offering car salary sacrifice schemes for staff.

Chilcare voucher info