- June 14, 2018
- Posted by: STERLING FINANCE
- Category: Child Care Vouchers, Free Childcare vouchers, Tax Saving Accountant
The Government announced in March 2018 that Childcare Vouchers will remain open to new entrants for an additional 6 months.
Therefore, on 4 October 2018, the vouchers scheme will close to new entrants.
Parents will continue to benefit from the tax exemption and National Insurance disregard if they join the voucher scheme beforehand. Employers will also similarly continue to receive the National Insurance disregard for those employees who have joined the scheme.
Tax-Free Childcare completed its roll-out to parents of under 12s in February 2018, helping to reduce childcare costs by up to £2,000 per child, per year. Families who are eligible can get support, regardless of who their employer is or whether they are self-employed.
Under Tax-Free Childcare, single parents can also access the same support as couples.
What do employers need to know about the new voucher date?
Employers can continue to offer childcare vouchers to new entrants until October 2018. However, employers may still choose to close their schemes to new entrants from April 2018.