Herbert Smith is launching a childcare voucher scheme for its UK-based staff.
The new benefit, which is expected to be launched next month, entitles employees who have children under the age of 16 to receive up to £1,000 of their salary in childcare vouchers in any one year.
The part of the salary that is received in childcare vouchers is exempt from income tax and national insurance.
The vouchers, which will be credited to staff internet accounts on pay day, can be used to fund a number of different methods of childcare, including covering the costs of nannies, nurseries, play schemes and school clubs.
It is understood that the benefit is being introduced after it was identified as an issue by Herbert Smith’s inclusivity group.
Herbert Smith is understood to be one of the first City firms to offer this type of benefit to its staff. Other firms offering childcare vouchers in lieu of a portion of annual salaries include Addleshaw Goddard and Landwell.