Save Money on Childcare
Help from employers
Employers may offer to help with childcare by using childcare vouchers, we work alongside various childcare voucher schemes to help you save on your Tax and National Insurance contributions. Talk to your employer about the support that is available. You can find further information on
Child Tax Credit
The Child Tax Credit is available to families who have an income of up to £58,000 per year. 9 out of 10 families are eligible for this tax credit and it is paid in addition to Child Benefit. There if also a higher payment available for families with at least one child under one year old (the baby element) and for families with children that have a disability.
Child Tax Credit and Working Tax Credit:
A link to the Inland Revenue’s site which explains Tax Credits and has a calculator which will help you work out how much you could be entitled to. This allows you to apply online
Universal Tax Credit
The Universal Tax Credit provides extra help to those parents in lower paid work with dependant children is they work at least 16 hours a week. You can find out further information on the tax credit help line on 0845 300 3900.
Our EY Number is EY453645
Employer Links: www.employer-links.org.uk A national scheme for employers, who are committed to the development of work life balance policies for all.
The childcare vouchers allowance can be taken by all employees from the moment their child is born and used up to the 1st September after their child’s 15th birthday (or 16th birthday if your child has a disability), to help pay for your nursery care. Depending on the rate of tax you pay you could save over £900 per year as the benefit is tax free. Employers also make a saving as they pay reduced national insurance contributions for you. Vouchers companies will charge your employer a service charge.
As of the 5th October 2018 the childcare voucher scheme has closed for parents to join, however childcare providers can enroll to accept vouchers and employers looking to move their existing schemes can set up an account.
Employees who have temporarily opted out of Childcare Vouchers, for example due to maternity leave or a career break, can re-join the Childcare Voucher scheme and will remain eligible provided they:
· Joined the scheme prior to 4 October 2018
· Make at least one salary sacrifice (more than £0) within each 52 week period
· Do not leave the scheme in order to use Tax-Free Childcare, and
· Do not change employer
We have listed some of the most popular voucher companies our parents use below, but we can register with any voucher company in a matter of minutes so if your company is not listed please just pass on the details to us and we will register.
We have included a link below to the HMRC web page with further information on the benefits of these schemes.
Apple childcare vouchers
Care 4 vouchers
Co-op employee benefits
Fair care services limited
0845 602 9459
0844 800 1444
0800 458 7929
0845 002 1111
0800 652 4745
0800 288 8727
0800 612 9015
0800 328 7411