Does every working mother know they can save up to 10% on their nursery/childcare fees? does every employer know they can also save up to an additional 13% on their NI contributions to said employer.
NO! And I've just found out why..(Please don't switch off at this point!!!)
Have been looking into these childcare voucher schemes and am shocked at the amount that the agencies like Busy Bee and Accord charge. They take 50% of all savings available on childcare as fees - and they are left to get away with it.
I have just set up the scheme where I work ,and once you get past the confusing explanations given by the tax man, and the ridiculous hype and waffle the agencies give, it is surprisingly simple...
All you have to do is get your employer to pay your childcare fees direct to the nursery by BACS or a cheque.
That's it. No vouchers needed. The tax man just looks at your P11d at the end of the year, and sees a benefit item in the form of nursery fees (no different from say, company car benefit). They don't care how the money gets to the childcarer from your employer.
The agencies are making a lot of money by relying on employers apathy and lack of government clarity/promotion on this issue. Its working for me, and I had to tell you at mumsnet. Maybe if your employers realised they would save money and don't have to pay such high charges to these agencies, they would take up this FREE MONEY the government are offering.
I despair at the amount of money I've lost over the last few years, and the amount my friends are wasting.
CALL TO ARMS MUMSNETTERS!!