Get ready for childcare voucher changes
HR's Performance, Pay and Reward team have launched an information campaign to alert staff to forthcoming changes in the UK’s childcare voucher scheme.
The voucher scheme, operated through employers, allows parents to pay for childcare from their PRE-TAX salary. This can result in big savings for the family household.
From this autumn, a new scheme – Tax-Free Childcare – will replace the existing voucher scheme. The difference is that it will be open to all qualifying parents, unlike the current system where childcare vouchers can only be bought by people whose employer offers the scheme.
If you are already in the current scheme (Childcare Plus), you can remain in it until your child reaches 15, as long as you don’t move jobs.
If you are not currently in the University’s Childcare Plus scheme and are eligible, you should consider joining prior to August 2015 to increase your flexibility in choosing the right scheme to meet your needs.
Tax-Free Childcare will be open to single parents/couples who work 8+ hours a week (including self-employed) and who pay for regulated childcare for a child under the age of 12 (or 16 if the child is disabled).
Under Tax-Free Childcare, eligible families will get 20% of their yearly childcare costs paid for by the Government. This could mean up to £2,000 per child (the scheme is capped at £10,000/year childcare costs per child).
Further information about the University’s Childcare Plus scheme - and the forthcoming changes - can be found on the University’s Human Resources web pages. Unfortunately, the University is unable to provide you with specific advice as to which scheme would best suit your childcare requirements.
The University’s Childcare Voucher scheme is operated by Sodexo. Their website has more details on the forthcoming changes and also a calculator which will provide you with a breakdown of savings you can receive through the current Childcare Voucher scheme:
You might also find help on the Scottish Family Information Service website:
See also the UK Government’s childcare and tax credits website:
First published: 19 January 2015