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Childcare Services - Saving you Money

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Salary Exchange
You can pay for your care at either our on-site nursery and playscheme (First Steps) direct from your RDE salary tax and national insurance free – this saves you money on a monthly basis.  We also provide a childcare voucher scheme which provides savings on care with any registered childcare provider.

 

What is Salary Exchange?
A Salary Exchange happens when you give permission for a deduction to be made from your salary to pay for your childcare costs. You do not pay tax, national insurance or NHS pension contributions on the amount you agree to have deducted. Our in-house Salary Exchange payment scheme available for all RD&E staff using our on-site nursery/playscheme is saving parents between 32% and 55% of their total childcare costs whilst the childcare voucher scheme provides equal savings but there is a limit to how many vouchers you may claim – this being dependant on your tax status.

 

Following a recent Government announcement the childcare voucher scheme will remain open to new entrants up until September 2018.  The Government introduced a new tax free childcare scheme on 28 April 2017, this will run in line with the childcare voucher scheme giving parents the option to choose which is their best option as you will not be able to use both schemes.  As we currently understand it, the childcare voucher scheme will be closed to new entrants from October 2018 onwards.  Existing voucher scheme users can remain on the scheme for as long as they need to or up to their child’s 15th birthday.

 

For more information on the in-house salary exchange scheme and the childcare voucher scheme please contact Steven Ball (Administration Services Supervisor) on 01392 405867 and for more information on the new tax free childcare scheme please see the GOV.UK website. For any queries please contact the HRMC helpline on 0300 123 4097.

 

Updated: 15 March 2017

 

 

 

 

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