Childcare Vouchers and Government Tax Free Childcare (TFC)
We wanted to remind all parents that the Government has announced that the workplace childcare voucher scheme will close to new entrants on 6th April 2018.
Any working parent who currently uses registered childcare (or plans to use registered childcare in future) needs to sign up to their employer’s childcare voucher (if available) scheme AND RECEIVE A VOUCHER by 5th April 2018.
Parents can then decide if workplace vouchers, or the Government scheme (Tax Free Childcare) is better/more suited to you as a family; as you can switch to the Government scheme (even after April 2018) but you cannot switch from Tax Free Childcare (TFC) to workplace childcare vouchers.
If you do not register and receive a childcare voucher by 5th April 2018, then TFC will be your only option – if you are eligible.
There is an eligibility criterion for TFC. Parents cannot be in receipt of Universal Credit/tax credits, and both parents must be working.
There has been general discussion and research in to what will be better for families, some argue employer’s voucher schemes will mean families are better off, some say a combination of both, and some families’ employers do not offer workplace vouchers - so they of course will be benefitted by TFC. The important thing is for families to know their options.
If you know any parents who may not need childcare vouchers immediately, but plan to in the near future, they can simply register on their employer’s scheme today, and place an order for the minimum amount. As long as they receive a childcare voucher from their employer in every rolling 12-month period, they remain on the scheme*.
* Any parent who’s already registered for childcare vouchers can carry on ordering them even after April 2018, providing they’ve received a voucher in the last rolling 12-month period. For example, if they last received a childcare voucher on 25th May 2017 they need to receive their next voucher on or before 25th May 2018 to remain eligible.
[Source: Computershare Childcare Vouchers www.computersharevoucherservices.com]
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