Thursday, 19 July 2012

Childcare Vouchers Pay For Summer Holiday Schemes

The summer holidays are fast approaching; many parents find the forthcoming six weeks a stressful and expensive time.  Parents need to consider how much time they can have off work, what childcare is available and how much childcare and holiday activities will cost.
There are a wide range of childcare options available for the summer holidays, for children of all ages.  There are summer camps, holiday schemes, play groups, child minders, nurseries and out of school clubs. 

All of these are fun and exciting; children can experience activities they would not usually experience.  Sending children to summer camps and holiday schemes will help to encourage children to engage and experience working in groups with new children, take part in events and shows and encourage them to explore and discover new skills.

Knowing there is suitable childcare options will give parents the peace of mind they need when considering summer holiday childcare. However, the cost of sending children to camps and holiday schemes is an important factor.  Did you know you can use your childcare vouchers, taken as a salary sacrifice via your employer, to pay for the cost of most summer childcare options?  Parents can exchange up to £243 per month, which is non-taxable and national insurance exempt, from their salary.  They will then receive childcare vouchers to use to pay for their chosen childcare.

Using childcare vouchers can save working parents up to £933 per year from the cost of their childcare.  Both parents can join a childcare voucher scheme, increasing potential savings to over £1800 per year.  Be money savvy; if you intend to send your child to a camp or holiday scheme in the following year, you can save up childcare vouchers to pay for the costs.

Do you want to save more?
Busy Bees are campaigning to raise the weekly childcare voucher cap from £55 to £75 per week to help parents save more on the cost of their childcare.  Raising the cap will increase savings per parent to over £1200 per year.  If you want to save more sign the Busy Bees e-petition to help persuade the government to increase the cap.

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