Childcare Vouchers: cut childcare costs by £1,000/year Discussion Area

cloz

Molliesmum - childminders do have to do an extra course to be able to accept the childcare vouchers and there are usually only a few in each area that do so. Not sure about what the course entails, when i did the initial course to qualify as a childminder i was told i would be able to go onto the next course and accept vouchers as i was already a qualified teacher with experience. hth

Woby_Tide

swills007 wrote:

I have been looking in to this but am wondering if it is the best thing to do. You can claim back child care costs anyway and get back up to 80% in tax credits. This would make the voucher scheme a bit poor as if yolu spent £1000 in theory you can claim back £800. Can anyone confirm my theory?

Only if you receive WTC, if you don't receive the WTC element then you can't claim for any childcare element so the vouchers are then worthwhile as up to 40% (for higher rate tax payer) is better than nothing

MadCad

I'm thrilled - just found out our Company has opted into Busybees Childcare Voucher scheme - done the calculations and found I will save £962 a year!!!!

Leigh-Anne_60

Excelent Madcad - really feels like your getting 'something for nothing' doesnt it:T
Have you checked with your childcare are set up with busybees? If not get the ball rolling now and print off the Care providers pack from their website

LA

MadCad

Leigh, I haven't checked but I would think it does, it's a new state-of-the-art nursery which seems to do everything under the sun! Thanks for reminding me though, I will check in the morning.

irishesman

Our company does the salary sacrifice and we ger electronic Accor vouchers. Currently, I get £200 a month, however, my daughter is leaving nursary in April and because of the number of nursary sessions between now and then, I will have a small surplus of about £150. I've check with my employer and they wont stop the scheme a month early for me.

Does anyone know if I can get the money back?

Older_but_not_wiser_2

irishesman wrote:

Our company does the salary sacrifice and we ger electronic Accor vouchers. Currently, I get £200 a month, however, my daughter is leaving nursary in April and because of the number of nursary sessions between now and then, I will have a small surplus of about £150. I've check with my employer and they wont stop the scheme a month early for me.

Does anyone know if I can get the money back?

I've no idea, but my first port of call would be Accor. Write (or e-mail) them and ask what procedures they have in place for this, as they must have loads of people in the same boat.
Bear in mind you may have to pay out for the tax implications of getting this money back.

irishesman

Older_but_not_wiser wrote:

I've no idea, but my first port of call would be Accor. Write (or e-mail) them and ask what procedures they have in place for this, as they must have loads of people in the same boat.
Bear in mind you may have to pay out for the tax implications of getting this money back.

Tried calling Accor, but the guy I talked to was next to useless. I've left a message with HR and waiting a call back.

I also thaought about asking the nursery to 'bill' me for some sessions that we wont take and then 'refund' the money, not too honest, but a way round the problem. I'll try Accor again and see if I can talk to someone more knoledgable

Jus_H

We run a sodecho scheme where i work, but the key principles are the same regardless.

as far as leaving the scheme early. as per revenue and customs you are allowed to leave the scheme early for life chagning circumstances - i.e. change of hours workes, change of marital status, etc etc. However HR usually have discretion to allow employees to leave for other reasons, the key question is why do you have a surplus of vouchers, is this because you miscalculated your total childcare when entering into the scheme or is it a result of a change in your childcare costs - i.e- are you now getting free sessions or use less sessions because you or your partner are free to take care of your child.

You should be able to put this case to HR and thus be allowed to leave the scheme. Give at least 30 days notice though.

Hope this helps

Jus

Spendless

It's worth talking to your employer/HR dept about how they administer this scheme. I was able to change my daughter from one private nursery to another with no problems and was also ok when she stopped attending in order to go to the local school nursery instead.