Childcare vouchers are a benefit, offered by employers, to help you with your childcare costs.
Child care vouchers make a big difference to the finances of all working parents, saving each up to £1,487 per year in tax and national insurance.
Childcare vouchers have a positive impact on staff morale, productivity and ultimately on staff turnover. This means lower staff recruitment costs. Offering employees childcare vouchers to help with their childcare costs means that employees are more likely to return to work after maternity and paternity leave.
Vouchers can be used to pay for all forms of registered and approved childcare such as:
- Day nurseries
- Nannies and Au-pairs
- Breakfast clubs & after school clubs
- Holiday clubs
Vouchers can be used from the moment your child is born right up to the age of 15 (or 16 if your child has a disability).
In addition to the BBM calculator below, you may wish to use the HMRC calculator to evaluate the impact on tax credits, which can be found here:
All prices are based upon a basic tax rate