Help with Fees via Childcare Vouchers
Childcare Vouchers are a form of ‘employer supported childcare,’ a popular scheme which an increasing number of employers are adopting. This scheme works via salary sacrifice where an employer pays the employee partially in the form of Childcare Vouchers up to a value of £243 per month. These Vouchers are both tax and National Insurance free, thus greater in value than the cash equivalent, and can be used to pay for approved services. As Regent Learning is Ofsted registered, these Vouchers can be used here.
It may be possible for you to save up to £933 per year as a basic rate taxpayer and up to £623 (£1,225 if you joined the scheme on 5th April 2011 or before) per year as a higher rate taxpayer* by using these Vouchers. Moreover, both parents can receive Childcare Vouchers from their respective employer to use towards the tuition fees and therefore double the saving. The only requirement for you to take advantage of this scheme is that your child is aged 15 or under and that your employer is signed up to be part of it.
* correct as of 6th April 2011
There are a wide range of these schemes currently running operated by a variety of different providers. We are currently registered to accept Childcare Vouchers from Edenred (www.childcarevouchers.co.uk) but will happily look into accepting vouchers from other providers too.