Childcare Vouchers still vital support for working parents

The long-awaited changes aimed at helping working parents with the cost of childcare have finally been announced. The additional funding for working parents childcare costs is welcomed. As to is the extension of the benefit for the self-employed, something we have been campaigning for many years. 

We like many across the industry have major concerns about the management and administration of the proposed new scheme. The press release from the CVPA presents these very clearly.

The new arrangements will come into play in Autumn 2015 but before that date, employer Childcare Voucher schemes will remain the only way for working parents to reduce the rising cost of childcare. Many can save up to £1,400 before the new scheme comes into place.

Employers too, should not be losing out on the financial and employee engagement benefits accrued from providing a Childcare Voucher scheme in their business.

Even when the new scheme is up and running, it is clear that employer supported Childcare Vouchers schemes will provide help for some parents who will lose out under the new arrangements.

So although the support for working parents will change it is clear that Childcare Vouchers are still a vital way for employers to help with the cost of childcare.

As you can imagine, there is a lot of detail to go through in the announcement yesterday about the new childcare scheme.

My team is going through that detail as I write and we will be publishing a series of detailed guides and Q&A’s to help employers and working parents understand the new arrangements in the coming days.

If you have a question for us before then, drop us a line. If you want to discuss Employer Supported Childcare Voucher schemes our team of advisers are ready to help on 0843 453 4406

This article was written by Andy Philpott

Author: Andy Philpott | Category: Blog | 19/03/2014 | 0

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