Childcare Vouchers

Childcare vouchers

 St Michael’s are now accepting childcare vouchers as a form of payment for breakfast club, afterschool club and extra nursery provision (for those staying longer than the 15 hours entitlement)  If you are using childcare vouchers to pay your childminder already please give Mrs R in the office your childcare voucher providers details so we can set them up on our system to receive payments from them.

If you would like to know more about these vouchers or if you may be able to get them from work please read on below.

These vouchers are for working parents paid as part of their wages. Any parent, or those with parental responsibility for a child living with them, is eligible for the vouchers.

 The payment is tax and NI free (up to £243/month) so you are in effect getting taxed on less earnings.

An example using round figures for ease:

Gross Pay per month                    £2000                                                    £1000

Tax + NI                                      £405                                                      £   85    

Take home pay                          £1595                                                         £915

Using the voucher system

Gross Pay per month                    £2000                                                   £1000

 Take off Vouchers                       £ 243                                                    £  243

                                                  £1757                                                    £ 757

Tax + NI                                        £327                                                    £   13    

Sub total                                      £1429                                                    £744

Add vouchers                                £243                                                       £243

                                                   £1672                                                    £987      

 

Extra money                                 £77/month                                         £71/month

To spend on childcare                    £933/year                                            £860/year

 

If you are in receipt of tax credits you need to check on the Inland Revenue website to see if it is worth you getting the vouchers http://www.hmrc.gov.uk/calcs/ccin.htm on this site there is a lot more information if you need it.

Another useful website for calculating childcare costs: