Childcare Voucher Scheme

Childcare Vouchers to Help Staff

Childcare voucher administrators have urged employers to take advantage of the tax savings vouchers offer to help staff with children through the recession. Childcare vouchers allow employees to use up to £243 of their monthly salary to pay for childcare, without paying any tax or national insurance contributions (NICs) on this amount. The vouchers can be redeemed at any approved nursery, crèhe, play scheme, child minder or after–school club. Early Years Vouchers, a childcare voucher administrator, pointed out that employers who introduce a voucher will also benefit by making savings on their NICs. It claimed that employers can save up to £227 per working parent per year. Early Years Vouchers director Amanda Ward said: “By offering money–saving benefits... »