New job, losing Childcare Vouchers entitlement

[Silentnight2017]

Last few weeks have been quite stressful for a number of reasons. But finally have a new job offer after being in my current one for over a decade. But is it the right move?

I am trying to negotiate a salary as the first offer they have given me will give me a real increase in my bank balance of £50 a month. Am not that happy as think they is my opportunity to make up for a lack of a significant pay raise over the last few years

However I just realised I would also lose my childcare vouchers entitlement in any new job as I would be considered a new entrant! Who else has had this and how big is the downfall as I understood it, that for my situation, CV meant I was better off. I use them for Child No.2 who is with Childminder 3 x a week and costs are around averaging about £600ish a month - sometimes more, sometimes less, depending on the month. I am googling information about the Child Tax scheme as I type as I don't fully understand it!

Also any other advice on what I should look for in a new job?

You can join the tax free childcare scheme so you won’t be worse off. In fact you will be better off as before the maximum voucher you could get was £243 a month so you were paying around £559.50 for your childcare. (A £243 voucher costs you around £202.50 because rod the tax relief).

Under the new scheme if you put £480 in the government will top it up to £600 so you are paying less.

As per the previous poster I think you will also be better off.

For every £8 you pay the government pay £2 so essentially when I work out our childcare per month I knock 20% off the bill so it works out quite well.

Instead of it coming directly off your wage you pay it directly into their scheme through an online portal, the govt then adds their bit and you then send it across to the childcare provider. It’s not automatically done so takes more organisation on your part to do or all.

Work out the bill per child each month, knock off 20% and that’s how much you will save.
The government will pay a max of £2000 per child a year, so really your childcare bill would have to be £10,000 per child for then to stop paying. Which unless it’s a nursery I can’t imagine you will reach this amount.

Just like the pp, based on your childcare cost, you’ll be better off using the new tax free childcare scheme. I just set mine up last week and it was all easy to set up. There’s lots of helpful information on the Gov website

Thank you for all your helpful messages: I didn't realise I would be better off otherwise would have swapped it at work beforehand. I find it all confusing when comparing it all