- Original Poster
- #1
I am looking to put our childcare through our business as it is around £1000 per month, previously we have been paying it from our income however as we are still a relatively young business our wages have always been quite low, so this is quite a chunk of our joint income. SO I am looking at the most cost efficient way for the company to pay our childcare. He is currently 17 months so hopefully we can claim some more childcare when he hits funding age.
My partner is the sole director & higher earner and I am just an employee that earns a wage the lower earner. Having tried to discuss this with my accountant which was like getting blood out of a stone I am throwing it out to hopefully some other like minded small business owners.
I understand i/we will need to pay tax however is it better to put it through just my wages as a BIK or split evenly better the two of us can anyone help or make any suggestions and theres P11ds to be completed each year along with company NI contributions. My accountant have suggested that if we split it between us that it is no more expensive for my partner as it is me ( which I thought was 20% of income ) so I am very confused.
I understand that I can claim £2 for every £8 I personally pay but this is still only about 2k help a year so we have another 10k to find but also understand that this is probably not do-able if claiming through company ?
If anyone has any other magical solutions option that they have, or clients have done.
In anticipation with thanks in adnvance
My partner is the sole director & higher earner and I am just an employee that earns a wage the lower earner. Having tried to discuss this with my accountant which was like getting blood out of a stone I am throwing it out to hopefully some other like minded small business owners.
I understand i/we will need to pay tax however is it better to put it through just my wages as a BIK or split evenly better the two of us can anyone help or make any suggestions and theres P11ds to be completed each year along with company NI contributions. My accountant have suggested that if we split it between us that it is no more expensive for my partner as it is me ( which I thought was 20% of income ) so I am very confused.
I understand that I can claim £2 for every £8 I personally pay but this is still only about 2k help a year so we have another 10k to find but also understand that this is probably not do-able if claiming through company ?
If anyone has any other magical solutions option that they have, or clients have done.
In anticipation with thanks in adnvance
