Save Money on Childcare in School Holidays
25/07/2008
The kids are off school, but you've still got to work, and you've got six weeks of childcare to pay for. There is good news for parents, however: you can get childcare vouchers from your employer under the Government's Childcare Voucher Scheme.
There are some common misconceptions surrounding childcare vouchers. First, is the notion that only low earners are eligible. In fact, all working parents are entitled to the vouchers, regardless of salary.
Second is the impression held by many parents that vouchers only pay for nursery school. They do in fact cover childcare up to the age of 15, and they can be used to pay for any form of approved and/or registered childcare.
Money saving guru Martin Lewis, in an interview with GMTV, said: "Many parents don't realise that this covers not just nursery schools, playgroups, nannies and childminders, but also a wide range of summer classes, clubs and workshops for older children."
If your employer hasn't registered for the Childcare Voucher Scheme, they should do so promptly. This is not only because all working parents are eligible for the scheme, but also because there are benefits for employers too. No National Insurance is payable on the vouchers, so it's actually feasible that employers can save money too.
More on child savings.
There are some common misconceptions surrounding childcare vouchers. First, is the notion that only low earners are eligible. In fact, all working parents are entitled to the vouchers, regardless of salary.
Second is the impression held by many parents that vouchers only pay for nursery school. They do in fact cover childcare up to the age of 15, and they can be used to pay for any form of approved and/or registered childcare.
Money saving guru Martin Lewis, in an interview with GMTV, said: "Many parents don't realise that this covers not just nursery schools, playgroups, nannies and childminders, but also a wide range of summer classes, clubs and workshops for older children."
If your employer hasn't registered for the Childcare Voucher Scheme, they should do so promptly. This is not only because all working parents are eligible for the scheme, but also because there are benefits for employers too. No National Insurance is payable on the vouchers, so it's actually feasible that employers can save money too.
More on child savings.
