Child Care Vouchers

[The Batman]

Currently looking at nursery places for my daughter for later in the year and on all the literature for all the nurseries, they say "we are able to accept childcare vouchers"

All i can gather is that it's a payment of my gross salary so there is a slight tax save. But can someone explain it to me like i'm a 4 year old (Denzel Washington - Philadelphia)

[BRISTOL86]

This should tell you everything you need to know mate. 

https://www.gov.uk/help-with-childcare-costs/childcare-vouchers

[BRISTOL86]

The scheme is also changing with effect 1st Oct so you’d need to check with your employer about when you’d need to be enrolled by. 

The voucher scheme is being replaced with ‘tax free childcare’ which is where you get 20% of your childcare costs paid by government essentially through tax saving. Existing members of the voucher scheme will still get them but it’ll be closed to new applicants 

[Stortz]

3 hours ago, BRISTOL86 said:

The scheme is also changing with effect 1st Oct so you’d need to check with your employer about when you’d need to be enrolled by. 

The voucher scheme is being replaced with ‘tax free childcare’ which is where you get 20% of your childcare costs paid by government essentially through tax saving. Existing members of the voucher scheme will still get them but it’ll be closed to new applicants 

Yes, @The Batman you should do anything you need to to get on the current scheme asap as the newer one is vastly poorer and involves a lot more dicking about than the present salary sacrifice version.

Even if you don't need the childcare this minute, you can start paying into the current scheme now through your employer and the funds wait in your account until you need them.

[The Batman]

Many thanks both.

My work do a scheme which ends in October, so i'll be sorting something over next few weeks.

Have a stag do in June so once that is out the way, i'll start paying into it. I have my priorities in order