Currently a couple with one child can make savings of £1866, under the new scheme, the maximum saving per child will be £2000. But more importantly, the new TFC scheme will only allow you to receive 20% of your child care costs up to a maximum of £2000 per child, where as the current scheme allows you to pay up to 100% of your child care costs. Click here to get up to 100% of your child care costs back now.
The current scheme applies to all children up to the age of 15, where as the new scheme will only apply to children aged 12 and under, so if your children were born before September 2006, then the new scheme will not make any provisions for you of any kind, so click here to take advantage of the current scheme before it closes.
Employers make savings under the current scheme of 13.8% over the employers NI threshold, up to £402 per employee per year. Companies have been using these savings to offer other benefits to their employees or to fund departmental costs as the savings can be significant across a work force. If you are an employer looking to take advantage of the current scheme, click here while the scheme is still open to you.
Finally, the current scheme is easy to set up through your employer, but the replacement scheme will be more complicated and will require you to send payment to your child care voucher provider, for them to then obtain a top up payment from the government which they can then add to your payment and send to your child care provider.
We suspect that child care providers prefer the quick and efficient method of payments that we offer utilising the current scheme, and parents can keep track of their payments and allowances quickly and easily with our on-line account manager. Click here to keep your payments up to date with your current child care professional