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

MallyGirl

skip_1 wrote: »

Hi all, can anyone advise on our situation. Apologies as this may be a little long winded for what am I asking (can the childminder draw down more than the maximum monthly voucher value if I accrue vouchers).

I am looking to claim childcare vouchers to the amount of £243 per month which I understand is the maximum.

Our childcare costs are £288 per month, so I understand that I would have to top up by £45 per month to the childminder.

However, as my wife is a part time teacher we have a childcare set-up whereby our son will only undergo childcare for half of the time over the summer holidays. This would mean that for one month childcare would be £144 and for another (half month saving) £216.

Now I believe that I cannot vary the salary sacrifice, it would need to be £243 per month, which is too much over the summer. Where the excess of £171 in vouchers builds up over the summer hols can our childminder drawdown £288 for each of the following four months rather than the maximum £243, saving us topping up the balance in these months?

My husband and I used to get the full £243 each and just let it build up in the account until we needed it. DD was at school and they billed for after school care once a term, then there was the holiday club with another provider which varied massively in amount. We just treated it like a bank account and paid out as needed. We stopped paying in once my usage prediction had us with enough stored to last till she was 13/14 when she would need a different approach. We have had enough for 2 weeks holiday care sitting there for a while but that will get used up at Easter or in the summer. She is 13 now so wouldn't want to be going there any more after this summer I am sure.

janineo

Can anyone advise, please.
My husband and I both work, are basic rate tax payers, and both currently get the full amount of childcare vouchers.
We have 2 children, both in nursery for 2 days a week.
This currently costs us about £500 a year more than the £9,336 limit above which the new scheme wins.
However, in Sep 2016 our eldest child will be going to school, and in Jan 2017 our youngest will qualify for the free 15 hrs a week childcare for 3yr olds. So our costs will likely drop back below the threshold, even with nursery fee increases.
Assuming all schemes remain the same, would we be better off staying on the childcare voucher scheme?

skip_1

onlyroz wrote: »

I am with edenred and with them you are allowed to accumulate vouchers. You can also pay a childcare provider with a regular monthly payment, which you can stop and start whenever you like, or with one off payments if you like. Some schemes might not be so flexible so it is probably best to check with the provider.

I use an after school and holiday club where I am invoiced half-termly and the amounts vary considerably depending on our plans for the holidays. I have been paying the club £243 a month but found that I had accumulated a positive balance with the club. Recently I paused the payments for a few months allowing the vouchers to accumulate in the account. I'll probably use the extra vouchers over the summer holiday, or perhaps use them to pay for a PGL break next year.

MallyGirl wrote: »

My husband and I used to get the full £243 each and just let it build up in the account until we needed it. DD was at school and they billed for after school care once a term, then there was the holiday club with another provider which varied massively in amount. We just treated it like a bank account and paid out as needed. We stopped paying in once my usage prediction had us with enough stored to last till she was 13/14 when she would need a different approach. We have had enough for 2 weeks holiday care sitting there for a while but that will get used up at Easter or in the summer. She is 13 now so wouldn't want to be going there any more after this summer I am sure.

Thank you both for the help, I guess the next step is to check with the provider (Busy Bees) that I can accumulate vouchers. I assume from what MallyGirl says that they don't expire to quickly.

Mupette

September after your child's 15th birthday and 16th birthday if your child is disabled.

gavcradd

Hi, I wonder if anyone could clarify the situation with the new childcare scheme?

My wife and I are both full-time teachers and currently claim the full £243 of vouchers each through our employers. This matches almost exactly our childcare bill, which is usually £400-£500 per month.

My wife has a new teaching job starting on September 1st at a different school and so will need to re-register for a childcare scheme.

My questions are :

(1) When does the old scheme close and the new one begin? I've read Autumn, but will this be for September?

(2) If the new scheme has kicked in, can I remain in the old scheme whilst my wife goes for the new scheme? We do have 2 children so could effectively register one each if needed.

(3) Is there anything I can do to maximise the amount we save?

Thanks!

rpc

gavcradd wrote: »

(1) When does the old scheme close and the new one begin? I've read Autumn, but will this be for September?

I don't think they have said yet. Probably too busy trying to get re-elected.

(2) If the new scheme has kicked in, can I remain in the old scheme whilst my wife goes for the new scheme? We do have 2 children so could effectively register one each if needed.

No. You must choose one or the other.

(3) Is there anything I can do to maximise the amount we save?

Unless your childcare bill is going to increase, you will be better off if you can stay with both of you on the old scheme. But if you can't, then you can't.

[Deleted User]

the mse article says autumn 2015. When exactly in autumn?

rpc

flexiblefish wrote: »

the mse article says autumn 2015. When exactly in autumn?

My crystal ball is in for repairs.

How do you expect anyone on the forum to know when the government haven't announced a date? All they have committed to is Autumn.

So probably September, October or November.

[Deleted User]

rpc wrote: »

My crystal ball is in for repairs.

How do you expect anyone on the forum to know when the government haven't announced a date? All they have committed to is Autumn.

So probably September, October or November.

Thank you for your useful answer embedded in a sniping comment. You could have simply replied indicating that the government has not announced a date yet.

Nowhere in the mse article does it say that a date has been set and this is tbd.

MallyGirl

skip_1 wrote: »

Thank you both for the help, I guess the next step is to check with the provider (Busy Bees) that I can accumulate vouchers. I assume from what MallyGirl says that they don't expire to quickly.

I am with Accor and it is all online - no physical vouchers, if that makes a difference?