The Government has closed the Childcare Voucher scheme to new entrants from 4 October 2018. Current users can continue to use Childcare Vouchers as long as they remain eligible -provided they do not change employer. New entrants are:
- parents with first babies born after 4 October;
- families not registered before this date; and
- current users who change employers after 4 October
The Childcare Voucher scheme allows working parents the opportunity to swap part of their pre-tax salary to pay for registered childcare. As a result, they make savings on their Tax and National Insurance. Parents can pay a maximum of £243 per month from their salary into the Childcare Voucher account and use this to pay for registered childcare.
For more information on how the Childcare Voucher scheme operates, you can download our Employee Guide to Salary Sacrifice and our Employee Terms and Conditions guides here.
If you have any questions about childcare, childcare costs and the best form of support available to you now that Childcare Vouchers are no longer open to new entrants you can call our Family Benefits Advice Service on 0800 028 3008 or email email@example.com