Following a change in legislation on 4 October 2018, childcare vouchers are closed to new entrants. Any of our employees who already take childcare vouchers via salary sacrifice are eligible to carry on doing so for as long as they need. However, the scheme operated by Computershare voucher services on our behalf is now closed to new entrants.
Staff who continue with the scheme should be aware that HMRC rules do not permit us to exchange unused vouchers for cash, so they should try to avoid stockpiling these. Our normal practice is to allow one month’s refund, any more than that may only be considered in exceptional circumstances.
Any refund is at the discretion of the employer and will be made via payroll as PAYE tax and National Insurance must be deducted where appropriate.