Childcare Vouchers
Busy Bee Voucher Scheme
Child Care Vouchers as a working parent, do you qualify?
Did you know that your employer can offer you childcare vouchers
as part of your salary. What are the benefits? This
scheme benefits both the employer and the employee. The
employer no longer has to pay National Insurance while it saves you
the employee your tax. A number of the Kent Play Clubs
(Smeeth and Hawkinge) are registered to receive them. Please check
with us for further details.
If you would like to know more, ask your employer if they are
enrolled in the scheme and if not encourage them to
participate!
For more information on child care vouchers please Click Here to visit the Busy Bees Scheme
website.
The following is a brief overview of how the scheme works:
One of the biggest barriers for parents to registered childcare is
affordability. Childcare vouchers can be used to offset part
of the cost through savings on National Insurance
Contributions.
How does it work?
Employer agreements - The employer makes an agreement with one
of the National Childcare Voucher companies such as Busy
Bees.
Employees order the vouchers from payroll, usually on a monthly
basis. These are collated and sent off to the voucher
company. The employer pays the voucher company for the
vouchers. Payroll deducts the amount of the vouchers from
pay. National Insurance Contributions are charged on the
gross pay less the amount of vouchers. Please note that
Working Tax Credit is not affected by the purchase of Childcare
Vouchers as the credits are now calculated on gross pay and not net
pay as under the previous scheme.
Vouchers can be sent directly to your home address or enclosed with
your salary.
Vouchers are readily accepted by childcare providers, as it
represents a cash payment. The voucher company reimburses the
provider within 2 to 3 working days.
The vouchers are valid for a period of 12 months, however if you
change providers they can be exchanged without any fuss. Of
course you are able to order the quantity of vouchers which you
require and adjust the amount as necessary.
Benefits to Parents
- Maximum savings on childcare costs through the pay packet. Savings of up to 10% on childcare costs. Easy to use. Childcare costs stopped directly from salary guaranteeing payment
- Effectively managing/budgeting for childcare costs.
- Benefits to Employers
- Part of a company work-life balance programme to enable parents to manage their work and home commitments. Vouchers are at no cost to the employer as increased administration is offset by their reduction in employers National Insurance Contributions
- Support and assistance from the voucher company with publicity and payroll.
