Childcare Vouchers are an employee benefit available to all eligible working parents.
Childcare Vouchers benefit both basic and higher rate tax-payers.
Childcare Vouchers can be used to pay for all types of registered childcare, including holiday clubs, before and after school clubs, childminders, nannies, nurseries and play schemes.
Once an employer is registered with Busy Bees Childcare Vouchers, working parents are entitled to exchange a part (up to £55* per week, equivalent to £243* per month) of their gross salary for Childcare Vouchers. This part of their salary is exempt from Tax and National Insurance Contributions, which means your employee can make savings of up to £1,196* per year on their childcare costs.
Childcare Vouchers are National Insurance exempt for employers. The savings employers make are always greater than the cost of running the scheme. Employers can save up to £373* per year, per employee via reduced National Insurance Contributions.
Childcare Vouchers are a government work-life balance scheme, supported by HM Revenue & Customs (HMRC).