Reply to: Childcare voucher scheme providers fees

[Manic]

Have a read here

https://www.accountingweb.co.uk/any-...s-from-company

When the children were younger I used to directly contract the local clubs for summer childcare.

[pr1]

Don't be fooled by the 30 hours "free" childcare once they are 3, its more like "slightly discounted"

"Childcare providers are only given a limited amount of cash by the state to pay for these free hours, far less than they normally charge (and many say less than cost price), if so, they often try to claw a little money back such as charging for lunches."

[tarbera]

Good link here

https://blog.moneysavingexpert.com/2...childcare/amp/

[GiulioUK]

2 years old

what age are your twins? under or over 3 ?

They turned 2 on the 28th Feb

[tarbera]

??

Just a very useful tip, the company can pay you the childcare vouchers retrospectively for the tax year (back until the 5th of April 2017), therefore you can get a lump-sum of over £2K in childcare vouchers, that you can later use in the year. My wife has done this last year to pay for our twin girls' nursery, and it was very useful. And I would do it now, as the childcare vouchers scheme will end from next month. I hope it helps.

what age are your twins? under or over 3 ?

[GiulioUK]

You can pay yourself the vouchers retrospectively

Hi all,

I'm interested in joining a childcare voucher scheme through my ltd; before you ask why not pay the nursery directly, my child is almost two months old and her mother is currently taking care of her :-) But I think it's still worth for be to get and save the vouchers for when they're needed. I struggle to see which scheme provider to pick, as far as I can see only kiddivouchers have their fees on their website (4.5%), which seem a bit high. Which other schemes do other people use and how expensive are there?

Thank you

Just a very useful tip, the company can pay you the childcare vouchers retrospectively for the tax year (back until the 5th of April 2017), therefore you can get a lump-sum of over £2K in childcare vouchers, that you can later use in the year. My wife has done this last year to pay for our twin girls' nursery, and it was very useful. And I would do it now, as the childcare vouchers scheme will end from next month. I hope it helps.

[tarbera]

Another childcare thread as clear as mud

[TheCyclingProgrammer]

Of course you can run your own voucher scheme.

[Lance]

Yeah, sorry I wasn't very clear (newbie poster, and newbie at contracting too!). The scheme is about to close (I need to sign up and receive my first voucher before the 4th of April) and by the time mum goes back to work she won't be able to sign up to the scheme (as it will have closed).

So that's why I'm looking for a provider to sign my ltd with urgently, and I'm asking about the fees.

To be clear though. Vouchers are closing but tax free childcare isn’t. It’s changing so for every £8 you pay the govt pays £2. Make sure you look at the whole picture over many years.

[theridersofrohan]

Thank you - that's very useful. When did you conduct your search?

I use https://www.applechildcarevouchers.co.uk/

They charge 4% + VAT and were the cheapest I found in my search (although they used to charge less than this apparently) - I've never had any issues and got my missing carer added on easily enough.

Get in quick before you miss the boat!

[theridersofrohan]

Yeah, sorry I wasn't very clear (newbie poster, and newbie at contracting too!). The scheme is about to close (I need to sign up and receive my first voucher before the 4th of April) and by the time mum goes back to work she won't be able to sign up to the scheme (as it will have closed).

So that's why I'm looking for a provider to sign my ltd with urgently, and I'm asking about the fees.

I didn’t know it was going to close.


I was sharing my experience.
Yes I do know the price of childcare.
And 2 parents (that’s the required number as I recall) can pay nearly £6k.

[Lance]

Have you seen the price of childcare? You know you can't just pay the whole bill (over c. £3k a year) without incurring BiK right? And that the voucher scheme is about to close forever next month?

I didn’t know it was going to close.


I was sharing my experience.
Yes I do know the price of childcare.
And 2 parents (that’s the required number as I recall) can pay nearly £6k.

[SeanT]

Someone else says 4% and IMO that’s an awful lot unless you’re absolutely certain you need the extra ones banked now.

Have you seen the price of childcare? You know you can't just pay the whole bill (over c. £3k a year) without incurring BiK right? And that the voucher scheme is about to close forever next month?

[Lance]

but I won't spend them for at least another year while mum is on leave, so I want to bank them if you will. I
don't think my company can run its own scheme, at least not according to my accountant. That's why i'm looking at scheme providers, but I can't find information on the fees.

I understand all that.

When the mother goes back to work she can access a childcare scheme that won’t cost you/her a percent.
Add into that what your company can provide and you’ll have more than you need. Is what I’m saying.
Someone else says 4% and IMO that’s an awful lot unless you’re absolutely certain you need the extra ones banked now.

[SeanT]

I use https://www.applechildcarevouchers.co.uk/

They charge 4% + VAT and were the cheapest I found in my search (although they used to charge less than this apparently) - I've never had any issues and got my missing carer added on easily enough.

Get in quick before you miss the boat!