Fees charges by Childcare Voucher scheme providers

[Marmalade]

Thanks for your swift reply Lisa, 7% does not seem an attractively competitive offer for a company with 12,000 employees? I believe Kiddicare charges 3.5% and/or a price match promise. Please note that I am just a small contractor not a Voucher provider in disguise!

Information for Employers / KiddiVouchers Childcare vouchers

Thanks for entering into a dialogue on this, not trying to be miserable but would look forward to seeing an improvement on this perhaps?

[Marmalade]

Still further to this, your Early Years scheme has very recently quoted a fee of 1.5% for my friend's company so perhaps you are paying too much for this Lisa?

'For an organisation with 10,000 + employees, our charge for providing the childcare vouchers, discussing the benefit with each of your employees over the phone, undertaking "one to ones" with interested employees on your premises and providing regular marketing materials, would be 1.5% of the voucher value'

was how the quote was phrased FYI.

[LisaContractorUmbrella]

Right, I see that CU also add a fee for handling it, I guess you could set the scheme up yourself if you wanted to save the 3%. (I'd pay the 3% myself, it's a bit of a fuss to do as a 1-off.)

We could do it that way but we would rather use specialist voucher providers

[Marmalade]

We could do it that way but we would rather use specialist voucher providers

Do you think you might work on the discrepency between the current margin of 1.5% and the 7% you are paying with your specialist provider?

[LisaContractorUmbrella]

Do you think you might work on the discrepency between the current margin of 1.5% and the 7% you are paying with your specialist provider?

I'll work on it Marmalade

[Marmalade]

I'll work on it Marmalade

Thank you Lisa for your 'can-do' attitude, I will watch this space.....

[LisaContractorUmbrella]

Thank you Lisa for your 'can-do' attitude, I will watch this space.....

We aim to please

[silvys]

Hi Lisa,

Did you make any progress getting the fees reviewed?

Childcare vouchers are an important tax break which the government offers to working parents. If a basic rate tax payer is making a saving of 20% (+NI) and you are charging a fee of 10%, then almost half the savings that the vouchers offer is being eaten away in your fees.

[LisaContractorUmbrella]

Hi Lisa,

Did you make any progress getting the fees reviewed?

Childcare vouchers are an important tax break which the government offers to working parents. If a basic rate tax payer is making a saving of 20% (+NI) and you are charging a fee of 10%, then almost half the savings that the vouchers offer is being eaten away in your fees.

Actually it isn't us charging 10% - we have to pay a company to administer the scheme for us

[Wij]

Chidcare Voucher Charge

I'm currently contracting and using Orange Genie as an umbrella company.

They run a childcare voucher scheme with Kiddivouchers. They don't charge for the service but they don't pay until the end of the month.

If I get paid on the 5th - 6th of the month the childcare voucher deduction doesn't get transferred to Kiddivouchers until the last working day of the month and then by the time Kiddivouchers has transferred it you're looking at around the 2nd of the following month.

You just have to make sure you're up to date with your childcare provider as your payments are all going to be a month in areers.