Real financial assistance for working parents
Childcare Vouchers, provided and administered by You at Work, are one of the most sought after, flexible and effective benefits that an employer can offer their employee, and gives real financial assistance to working parents.
Did you know only approximately 5% of employers currently facilitate a process that allows their employees to take advantage of this Government backed scheme?
Providing access to the Childcare Voucher scheme is a real way to prove you support your staff who have childcare costs - both men and women.
Each eligible working parent (mothers and fathers and legal guardians) can save up to £933 EACH on their childcare costs per year*, but only if you as their employer gives them access.
What’s more - it also saves your business money!
That’s right, due to it being a salary sacrifice scheme, the reductions in Tax and National Insurance Contributions (NIC) that your employees make are reflected in reduced NI contributions you as a business make.
Even after our administration fees, most companies find that they actually save money overall by implementing a Childcare Voucher scheme through You at Work - so why wouldn’t you?
If your employees have children that attend a registered child-minder, nursery, play scheme or out-of-hours club then they could be making significant savings. They can even retain the vouchers for use in the summer or as and when they need them.
It’s not just for toddlers – Childcare Vouchers can be used for children up to the age of 15
Do it now before it’s too late
The recent government proposed changes to childcare support means that there will be a new scheme phased in as from Autumn 2015. Only parents who are already enrolled in the current scheme will be able to continue with it and this will be the only way that employers can continue to make NI savings as the new scheme does not allow for this.
- Save your employees up to £933 EACH in reduced childcare costs*
- Reduce your NI employer contributions bill
- Eligible employees include mothers, fathers or legal guardians who have childcare costs
- Valid for all children up to 1st September of the year following their 15th birthday
- Eligible childcare providers include, registered child-minders, nurseries, play schemes or out-of-hours clubs (including summer)
- Fully explained user journey via the plusyou portal
- Childcare Vouchers credited into your employees’ secure, personal, online childcare account
- Be seen as practically supporting the working parents you employ
- Most schemes are cost neutral for the employer or in fact save you money
*Maximum savings dependant on employee’s tax band excluding tax exempt benefits, performance related bonuses or overtime payments.