‘Can I get a refund for my £960 unused childcare vouchers?’ – Telegraph.co.uk
After leaving my previous job, I discovered that my Edenred childcare voucher account is in credit by just over £960.
My children are now 12 and 15 and so no longer uattend after school clubs. They also dislike the idea of holiday clubs, so I don’t see how I will be able to spend the credit in future.
Is there any way of reclaiming the tax-deduced amount?
J. King, email
Edenred, one of the main providers of childcare vouchers, states in its FAQs that it does not offer refunds for unused childcare vouchers – but there could be a way to get your money back if your employer permits it.
But don’t be too hopeful: many employers won’t help in these circumstances.
When approached by Telegraph Money, an Edenred spokesman suggested taking the matter up with your old company as childcare vouchers are a “contractual benefit between an employee and their employer”.
It’s a complicated situation because of the way the vouchers are purchased.
Parents can buy up to £243 worth of childcare vouchers via a “Salary Sacrifice” scheme organised by their employer.
The vouchers are bought before tax and NICs are deducted. Basic rate taxpayers who maximise their allowance could save up to £933 year.