Monday, 22 July 2013

Saving on childcare is now a greater priority as holiday care costs top £100 per week





Childcare and the cost of childcare regularly hits the headlines and a latest survey* reveals summer holiday childcare can cost more than £100 per week.

For some parents finding and paying for suitable childcare during the summer holidays can be a difficult task.  Latest figures suggest that one in five parents with children under the age of 15 use some form of formal childcare including holiday clubs, play schemes and youth clubs during the six week break.

The cost of childcare and the availability of childcare can lead to certain pressures being placed on families and their budgets.  Therefore, it may be more beneficial for parents to take unpaid leave from work to provide their own childcare.  Childcare Vouchers are a simple way for working parents to reduce these necessary costs.

Childcare Vouchers are available from employers for working parents to save money on their childcare.  Parents can choose to have up to £243** deducted from their wages each month in return for the same amount of Childcare Vouchers to be used to pay for any registered childcare for children up to the age of 16.  This amount is taken from parents’ wages before tax and National Insurance, saving up to £933** per year.

Both parents can join their employer’s Childcare Voucher scheme to potentially double these savings to more than £1,800** per year.

John Woodward, MD at Busy Bees Benefits said: “Even if you don’t use childcare regularly and only tend to use it during school holidays, it’s worth joining your employer’s Childcare Voucher scheme because you can store vouchers up throughout the year to make holiday childcare more affordable.”

Speak to your employer to join their Childcare Voucher scheme and start saving today.  If your employer doesn’t have a scheme, contact Busy Bees Benefits and they will get in touch to set a scheme up.

For more information about how you can start saving using Childcare Vouchers, visit www.busybeesbenefits.com.

** Subject to individual circumstances.    

1 comment:

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