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Article: ANALYSIS: Childcare crisis looms.
- Article from:
- Employee Benefits
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The government's decision to withdraw tax and national insurance relief on childcare vouchers could have major repercussions, says Nicola Sullivan
The future of employers' childcare provision for staff has been cast into doubt after the government announced that the tax exemption on childcare vouchers would be abolished.
Many employers are concerned they will not be able to afford to continue to offer the perk once the tax and national insurance (NI) breaks are phased out from 2011 for new schemes, and from 2015 for existing plans. Harsha Modha, director of benefits programmes for the UK at GlaxoSmithKline (GSK), said: "As far as we are concerned, ...