Benefits for Employees
Childcare vouchers are only available through employers, and are usually offered through a salary sacrifice arrangement. This means that you contractually agree to a reduction in your salary in return for the equivalent value of childcare vouchers. Income Tax and National Insurance is therefore only due on the reduced salary, which could save you up to £933 a year, depending on your personal circumstances.
It’s easy to use
Our childcare voucher scheme is completely electronic, operating via our website or free phone telephone in a very similar way to an internet or telephone bank account. You can rest assured that payments to your childcare provider(s) are made quickly and accurately, directly into their bank account. If you have any queries with the scheme we offer a free phone helpline to offer you support when you need it.
One of the great things about our voucher scheme is that it is flexible, so as your child grows you can use the vouchers in different ways. They can be used for children up to the age of 15 (or 16 for children with disabilities) and are accepted at holiday play schemes and after school clubs as well as child minders, crèches and nurseries. Most childcare providers accept these vouchers and if your provider isn’t registered with us we’ll send them a simple registration pack to sign up.
Both parents can take advantage of the scheme
If you and your partner both work for employers who operate childcare voucher schemes you can both take part in the scheme and could still sacrifice up to £243 a month each, depending on your income.
Maximum childcare vouchers you can receive as exempt income following completion of a basic earning assessment
Working with Co-operative Flexible Benefits
The values and principles that have made the Co-operative name synonymous with trust, ethics and mutuality still shape the way we do business today. We want to work together with you to offer you the best possible support while you are using our childcare voucher scheme. Don’t forget that you can become a member of our co-operative to enjoy a share of the profits and have your say in how we run out business.
To find out more about The Midcounties Co-operative visit Midcounties Co-op
For more information contact our helpdesk on 0800 458 7929