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From 4th October 2018 the childcare voucher scheme is closed to new entrants, meaning those employees who are not registered cannot join and making savings to their childcare costs.
If employees are already in the childcare voucher scheme then they can carry on using it as long as they stay in employment and continue to run the scheme and they do not take an unpaid career break of longer than a year.
Now that the scheme is closed to new entrants, employees still have alternative options to help them with the cost of their childcare.
15 hours free childcare – open to all 3 and 4 year olds and some families receiving forms of support will be eligible to receive 15 hours free childcare for 2 year olds.
30 hours free childcare – this is available to working families for children aged 3 and 4. Both parents must be earning at least £125 per week (equal to 16 hours at national minimum wage living wage).
Tax Credits for childcare – available for working families in the UK.
Universal credits for childcare – available to working parents claiming universal credit, subject to where you live and personal circumstances.
Finally an accountancy team that are thinking about our pennies as much as we are!
Colab Enterprise Ltd