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Information for Parents Childcare Vouchers
Information for ParentsChildcare Vouchers
Over 25 years’ experience in delivering corporate childcare solutions including Childcare Vouchers, Emergency Childcare and work place nurseries.
Childcare Vouchers help working parents save money on the cost of their childcare.
They are a valuable employee benefit which helps with employee retention, recruitment and morale.
The Need-to-know Facts About Childcare Vouchers
• Working parents can save up to £933 per year on the cost of their childcare. Both parents can join a scheme increasing their family savings.
• Operated as a salary sacrifice scheme – working parents can sacrifice up to £243 per month (£55 per week) from their wages in exchange for vouchers.
• The scheme can also be operated as Salary Plus.
• Childcare Vouchers are non-taxable and National Insurance exempt.
• Use to pay for any registered childcare for children up to the age of 16.
• Employers save money on Employer National Insurance contributions – saving over £400 per employee, per year.
All figures are subject to individual circumstances
Key Facts Over 500,000 working parents currently use Childcare Vouchers in the UK
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All employees paying tax via PAYE are entitled to use Childcare Vouchers to pay for their childcare costs.
Employees choose how much of their wages they would like to exchange for Childcare Vouchers each month - up to £243 (£55 per week). This is taken from their gross salary before tax and National Insurance is deducted.
Employers send all Childcare Voucher funds directly to Busy Bees Benefits on the pay date to make them available for employees to pay their childcare provider using the Busy Bees Benefits innovative online payment system.
Where can they be used?
Childcare Vouchers can be used to pay for the following registered childcare:
• Nurseries• Childminders• PlaySchools• Pre-Schools• Crèches• Nannies• AuPairs• BeforeandAfterSchoolClubs• HolidayClubs/Camps• PlaySchemes• IndependentSchools• PrivateSchools• ReceptionClassesatIndependentSchools
All childcare providers must be registered with Ofsted or an equivalent governing body.
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The Process “95% of parents said that they found the Busy Bees Benefits’ online system easy to use.
Why Use Childcare Vouchers?
Childcare Vouchers are a popular employee benefit for working parents.
5GreatReasonstoJoinourScheme:
• Childcare Vouchers can significantly help to reduce working parents’ childcare costs
• Savings up to £933 can be made by exchanging the maximum of £243forBasicRatetaxpayers.(Seenextpageforhigherandadditional rate savings)
• Both working parents can join a scheme, increasing potential family savings to more than £1800 per year.
• Vouchers can be used to pay for a wide range of childcare needs for children up to the age of 16.
• JoiningaBusyBeesBenefitsChildcareVoucherschemewillentitle parents to additional benefits.
Who is eligible to join?
Working Parents - all parents employed by a company, paying tax under PAYE can use Childcare Vouchers to pay for their childcare costs, if their employer runs a scheme. If your employer does not currently run a scheme click here to send a request for us to contact them on your behalf.
Self-employed - currently, self-employed parents are unable to use Childcare Vouchers. Busy Bees Benefits supports the extension of Childcare Vouchers for use by self-employed parents and hopes there will be a change of policy in the near future.
HowMuchCanISave? The maximum amount a parent can sacrifice from their
wages is dependent on the tax bracket they fall into.
Other factors such as Working Tax Credits, Child Tax Credits,StatutoryMaternityPayandotheremployeebenefits can affect how much you are entitled to take.
As required by changes to the Childcare Voucher systembyHMRC,allemployeeswhojoinedachildcarevoucher scheme after 6th April 2011, will have to complete a Basic Earnings Assessment to calculate the maximum amount of vouchers they can order.
The innovative Busy Bees Benefits system then alsoprovides a minimum wage check to ensure that by taking Childcare Vouchers, employees do not fall below national minimum wage levels.
Total Earnings
Weekly Allowance
MonthlyAllowance
Annual Savings
BasicRate £55 £243 £933
HigherRate £28 £124 £624
Additional Rate
£22 £97 £605
MaximumSavings:
Working Tax Credits - Childcare Element
The childcare element of Working Tax Credits (WTC) allows some parents to cover 70% of childcare costs. As income is generally lower during periods of maternity, it is often more beneficial for employees to claim tax credits rather than take Childcare Vouchers.
To see which would be more beneficial , use our online calculator to see how much you would save using Childcare Vouchers and compare.
Busy Bees Benefits is dedicated to providing a complete service for all of its customers. By joining a Busy Bees Benefits childcare voucher scheme, parents will benefit from:
RetailDiscountsTo help working parents to make savings on everyday lifestyle costs, Busy Bees Benefits offers all parents and registered childcare providers exclusive access to retail discounts. Users will be able to log on to their online account and access discounts of up to 20% in stores such as:
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Additional Benefits
• Asda and Sainsbury’s• B&Q• Boots• First Choice holidays• Schuh• MarksandSpencer• Mothercare• ToysRUs• WHSmith• iTunes• Houseof FraserandDebenhams• Halfords• PizzaHut• Currys and PC World• Love2Shop high street vouchers.
Busy Bees NurseriesParents using Busy Bees Benefits Childcare Vouchers at a Busy Bees nursery will receive an additional 5% on top of their voucher values, increasing the savings on their childcare costs.
Retaildiscountsare one of the additional benefits of the Busy Bees Benefits scheme which parents like the best.
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On The GoParents will be able to use the innovative online system on the
go as the system is smart phone optimised, enabling parents to access their account, make payments to carers and check
account balances on their mobile device.
SecurityAll funds taken from parents’ salaries are held in
a separate trust account until they are paid to the childcare provider.
Emergency ChildcareBeing let down at the last minute by a childcare provider can be very stressful for parents. As part of the Busy Bees group, the largest childcare provider in the UK, parents using Busy Bees Benefits vouchers will automatically have access to Emergency Childcare.
If your childcare provider is unavailable for any reason, this service allows parents to source registered childcare at a Busy Bees nursery near you or your place of work. The service is free to join, only requiring you to pay the nursery fees for that day. Fees can be paid using your Childcare Vouchers and you will receive an extra 5% credit on top of your voucher values.
Howitworks:• Contact Busy Bees Benefits on 0330 333 9100 to enquire
about emergency childcare.
• When you need the service, call us to book a place at your nearest nursery.
• Take your child to the nursery and pay the fees upon receipt of invoice.
• No registration fee.
The Emergency Childcare service is the perfect childcare backup plan.
Why Choose Busy Bees Benefits?
Easy Facilities
9 Quick and easy online registration
9 No paper application forms
9 Schedule order changes 9 Schedule voucher holidays 9 Pre-order vouchers 9 Email alerts when
payments are made and when accounts are created
9 Real-timetransactions
Exclusive Benefits
9 Smart phone optimised website
9 5% added to voucher values when used at Busy Bees nurseries
9 Free access to retail discounts
9 Emergency Childcare service
9 Online account
Customer Support
9 Local rate phone number 9 Instant messaging 9 Experienced customer
service team
Security
9 All funds are placed in a secure trust account
9 Funds are not used to support our operating costs
9 We will always honour your vouchers
Parents
VoucherRedemption
9 Opt to receive voucher payments weekly or daily 9 Detailedremittanceadvice
9 Real-timetransactions 9 View parents paying you
vouchers 9 Minimumof childand
parent name quoted on vouchers
9 Email redemption alerts 9 Set unique references on
payments 9 Multipleadministrators for
accounts 9 Child’s name on bank
statement
Registration
9 Simple registration process
9 Online account 9 Group carers - one
email address links all accounts
9 Free access to retail discounts
Customer Support
9 Local rate phone number 9 Instant messaging 9 Dedicatedcarersupport
line 9 Over 30 years’
experience in childcare industry
Carers
Security
9 Membersof theCVPA 9 All funds are placed in
a secure trust account 9 Funds are not used to
support our operating costs
MarketingSupport
9 Free dual-branded bespoke marketing
9 In-housePRsupport 9 Seasonal and target
marketing campaigns
Client Support
9 Dedicatedaccountmanagement
9 Parent presentations 9 Managementinformation and
legislation updates
Fully Administered Service
9 Simple registration process 9 Salary sacrifice agreements
online 9 Online accounts for
employers 9 Real-timetransactions 9 Increased security of
personal data 9 Ofsted records checked
fortnightly 9 InitialMinimumWagecheck 9 Basic Earnings Assessment
check 9 Free access to retail
discounts for administrators
Service Charge
9 We match any service charge you are quoted
Employers
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Visit: www.busybeesbenefits.com
Email: [email protected]
Tel: 0330 333 9100
HeadofficeaddressLatchfordHouse,Shenstone Business ParkLynn Lane, Shenstone, Staffordshire, WS14 0SB
• BusyBuyer• Will Writing• Employment Law
Busy Bees Benefits:We offer a range of employee and employer benefits:
For more information...If you would like more information and to discuss your organisation’s individual needs, contact us on our local rate phone number below:
• Childcare Vouchers• Cycle to Work• Car Leasing• Car Care
