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Family Finance WorkshopAmanda Ward – Director of Enjoy BenefitsChildcare costs: systems & savings
Childcare costs: systems & savings
• Childcare costs in the UK.• The employee benefits that every employer should offer• Different ways to cut your childcare bills….. Childcare vouchers
Workplace nursery benefit • Govt proposals for a “new & improved” form of help
• Your next steps to getting the best savings…
Childcare costs: systems & savings
Childcare costs in the UK.
Childcare costs: systems & savings
The employee benefits that every employer should offer
Childcare costs: systems & savings
Different ways to cut your childcare bill…..
Childcare vouchersWorkplace nursery benefit
Childcare costs: systems & savings
Different ways to cut your childcare bill…..
Childcare vouchers
Childcare Vouchers
So what are childcare vouchers?
•Pay your childcare bills out of your gross salary, not nett!
•Save up to £1866 a year, per family
•Both parents can claim the benefit
•From birth up to 1st September after child’s 15th birthday
Childcare Vouchers
How do you start taking the benefit?
• Employer sets up a company account with us.
• You set up a personal account with details of your child/children.
• What value of voucher would you like to take?
• We pay your carer(s) for you.
• So how does this save you money? …….
Childcare costs: systems & savingsWorkplace nursery benefit Uncapped benefitSave significantly more than you would with vouchersExample of nursery fees of £900 per month… you will save £2721 a year versus only £1866 with vouchers.
Childcare costs: systems & savings
Workplace nursery benefit from employers perspective: Neutral cost to the employer. Win win for the parent, employer and nursery.
Childcare costs: systems & savings
Govt proposals for a “new & improved” form of help
Childcare vouchers Proposed Tax Free childcare
Dad can claim as soon as mum comes out of maternity ward.
CAN’T be used until both parents back at work.
Can be claimed by just one parent. Can only be claimed if both parents working
Save £1866 per family on spend of £5832.
Save £2000 on spend of £10,000
Benefit obtained through employer You pay HMRC money with your debit card
Compare & Contrast…
Childcare costs: systems & savings
Your next steps to getting the best savings…
I am happy to speak to anyone here tonight, who would like a review of their childcare costs to see if they could be saving more….
