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GOVERNMENT VOUCHER SCHEME

Childcare Voucher scheme is a simple and cost-effective way for employers and employees to save money on childcare costs.

In April 2005, the Government introduced Childcare Vouchers, to help parents benefit from these savings, earning them extra disposable income, with new limits being introduced in April 2006.

A Childcare Voucher scheme can only be used as part of an employee benefit provided by an employer. Employees elect to take up to a maximum of £55 per week (£243 per month) of their salary as Childcare Vouchers. The amount chosen does not attract Tax or National Insurance contributions.

The amount of Tax and National Insurance contributions each parent will save with Childcare Vouchers depends on their current salary. More information can be found at http://www.hmrc.gov.uk/childcare.

Savings to be made...
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  • Savings of up to £962 per year for a 22% tax payer
  • Savings of up to £1,196 per year for a 40% tax payer
  • Both parents can take advantage of the scheme, therefore doubling their saving
  • Employers also save on their National Insurance Contributions, saving up to £373 per year / per employee.

In families where both parents are taxpayers there are potential savings of between £1,196 to £2,392 per annum , and parents have the flexibility to split childcare costs between them to make the most of their Tax and National Insurance savings. The Childcare Voucher scheme will significantly benefit most families in the UK with vouchers quickly becoming the preferred method for parents to pay for their childcare, and more Employers offering this scheme to their Employees as part of their benefits package. The amount of income tax and National Insurance contributions each parent will save under the scheme depends on their current salary, and more information can be found at http://www.hmrc.gov.uk/childcare/ .



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Grunty's Day Care Nursery provides childcare for infants, toddlers and pre-school children across Blackpool, Poulton Le Fylde, Bispham, and Lytham St Annes.