subject: Childcare Vouchers [print this page] Childcare vouchers have become the pre-eminent, tax-free method of payment in the United Kingdom, and are also exempt from national insurance. This scheme offers all employed parents that have children, not older than 16, childcare vouchers. These vouchers are used as payment for day nurseries, nannies, childminders, holiday clubs, as well as breakfast and after school clubs. In order to achieve the tax and NIC savings and receive the childcare voucher benefit, parents agree to sacrifice a portion of their annual salary.
Parents can also be assured when selecting a childcare provider that they have undergone rigorous vetting procedures. Before childcare vouchers can be used to pay providers the provider must be registered with an approved regulatory body and will need to meet the standards set out by that body. Ensuring only registered providers can accept vouchers for payment offers additional peace of mind to mums knowing that their child is being looked after in a safe friendly environment.
The use of childcare vouchers is very simple. Some are available electronically for increased efficiency and convenience. The day care provider will get timely and secure payments with no hassle. Many places that offer vouchers also have some additional benefits such as childcare hotlines where you can get the latest information on day cares and childcare workers. Whether looking for a full time provider or one for emergency use, you can get the information quickly and pay for the services via the childcare vouchers.
The amount you claim for childcare is deduced from you salary which is repaid in the form of funds exclusive of the taxes and insurance payments.
If going for the childcare vouchers option you need to way up your own personal circumstances first as some people may be better claiming extra child care vouchers or working tax credits. If in doubt you should really get independent advice with an organization such as the Citizens Advice Bureau as they should tell you which is the better option for you.
When it comes to pre-school child care, there is assistance out there, in terms of both helping employees meet the cost and find the care. The key is to consider the type of help the employee needs, the budget involved and the age of the pre-schooler. The first thing is help with funding, and, with a little-known government scheme, it's possible for employees to pay for childcare from pre-tax income, using vouchers they buy through salary sacrifice.
The government has also expanded the number of free early-education places it offers. At present, this is not full-time care. But three- and four-year-olds are guaranteed a free, part-time (12.5 hours per week, 38 weeks per year), early-education place, including state, private and voluntary sectors, across the country.
Naturally they are looking for the best day nursery where they can safely leave their children. So there is always a challenge for you to make your nursery the best among the rest. First, the safety measures should be taken care of. Secondly, there should be lot of open space in the nursery with enough fresh air. You should also have all the necessary nursery equipments so that children can take part in as much nursery activities as possible.
by: Garvan Fionn
welcome to Insurances.net (https://www.insurances.net)
