This is an extract taken from the BBC website stating how childcare costs are have increased dramatically. By using childcare vouchers parents can save up to £1,196 per year. “Many parents in Britain are paying in excess of £8,000 a year for a full-time nursery place, a survey suggests. The Daycare...
The latest Spring newsletter has been published on our news section of our website.
Although Gordon Brown made a u-turn on his original plan, there has still been a change to the scheme that will take effect as of 6th April 2011.
The new rules will only apply to individuals who join a scheme on or after the 6th April 2011 and they will not apply to employees who are already in a scheme by that date.
The maximum tax and NI free voucher value will be based on the employees basic earnings, after deducting personal allowance
• If the earnings are within the basic rate band, the employee is entitled to relief on (up to) £55 per week.
• If the earnings exceed the 40% tax threshold but not the 50% one, relief is given on £28 per week.
• If the earnings exceeds the 50% tax threshold, relief is given on £22 per week.
This is a long way off in the future and we will be developing our system to administer these changes.
It was also announced in the recent Budget that the Government intends to legislate a Finance Bill to be introduced as soon as possible in the next Parliament to relax the conditions for exemption from the chargeable benefit for employer-supported childcare, provided in the form of childcare vouchers or directly contracted childcare.
This means that employers do not need to exclude employees who are or close to the National Minimum Wage (NMW) for childcare voucher schemes operated through salary sacrifice.
Synseal are launching Apple Childcare Vouchers.
If you work for Synseal, come and meet a representative who will explain how the scheme works, the benefits of using childcare vouchers and the possible negatives and also demonstrate our unique online childcare vouchers system.
Come and see for yourself how much you can save!
I hope to meet lots of employees on the day.
Honda of the UK Manufacturing are transferring childcare voucher provider as of April 2010.
Apple Childcare Vouchers are delivering a road show at the Swindon location to enable employees to ask questions and view a demonstration of the unique systems developed by Apple Childcare Vouchers.
If you are an employee Honda and would like to find out more information regarding the childcare voucher scheme or view the demonstration then come and meet a representative on:
We look forward to seeing you there!
Nottingham Community Housing Association are launching Apple Childcare Vouchers.
If you work for Nottingham Community Housing Association, come and meet a representative who will explain how the scheme works, the benefits of using childcare vouchers and the possible negatives and also demonstrate our unique online childcare vouchers system.
Come and see for yourself how much you can save!
I hope to meet lots of employees on the day.
Marcus
Fantastic News……..Apple Childcare Vouchers can confirm that Honda of the UK Manufacturing, The University of Huddersfield, and Equifax are all transferring their childcare voucher schemes to Apple Childcare Vouchers as of 1st April 2010.
All of the above schemes are large schemes are have a number of employees using vouchers. It’s very positive time for Apple.
and if that wasn’t enough………
Apple childcare vouchers have received confirmations from Egger UK, Nottingham Community Housing Association and Synseal to start their scheme as of May 2010!
Apple Childcare Vouchers will be attending the Stoke on Trent College benefits day to promote the Childcare Voucher Scheme within the College.
Please come and meet a representative on:
We hope to see you there!
Apple Childcare Vouchers have been very successful over the last few months with companies choosing to transfer their schemes away from the larger childcare voucher providers.
This is obviously fantastic news for Apple Childcare Vouchers but why are these companies transferring?
I always ask this question to the companies when I go out and visit them and their response is always very similar.
Firstly the service that they are receiving is poor, 30 minutes on the phone until they can get an answer to their query, no replies to emails, invoices not being sent and childcare providers not receiving their payments. Obviously when providing a service this is not very professional.
Secondly, price is a big issue. I have met with companies that pay as high as 8% to their childcare voucher provider. Companies do save 12.8%, therefore the company net saving is only 4.8%. It doesn’t seem right that the provider can earn more than the companies net saving to administer what should be a very simple scheme.
At Apple we offer a simple, automated and secure childcare voucher scheme, a personable service with first class customer care and prices range between 2.5% and 3.75% depending on the size of the company. Therefore the company will still save at least 9.05%.
This is why companies are transferring and reaping the rewards.
If you’ve ever popped down to the shops and returned with much more than you went for, then you will know how Alderley Edge author and founder of Bearhunt, Malcolm McClean feels. He popped down to Costa for a Cappucino and came back owning a chunk of a new business.
He says “When I wrote To the Edge, which looked at how entrepreneurs think, I remember saying that living in this village is like having a masterclass at Harvard Business School every time you go out for a cup of coffee. The things you can learn just by listening to people are incredible. I’d met Stewart Pickering who co-founded Kids Unlimited and about 18 months ago he explained to me about his new enterprise Apple Childcare Vouchers. I was intrigued by the business model and when we met up for a coffee a few weeks back he explained that he was looking for investment to accelerate the business to the next level”.
Apple has developed a superior technology platform which enables it to reduce the costs to employers of providing childcare by about 50%. Malcolm says “It was quite spooky really because just as I was leaving the house to meet Stewart, my friend former Nottingham Forest striker Lee Glover, rang to ask my advice about an investment. I said don’t do it. We will do something together…I don’t know what it is yet but we will. When Stewart said, purely by chance that he was looking for investment, I asked a few questions, looked at some numbers and I bought a stake pretty much there and then for Lee and myself”.
Apple Childcare Vouchers is based in London Road and has just signed a deal with Honda to look after its childcare needs. Honda are in good company, they join an impressive and rapidly growing client list including Stoke-on-Trent College; The Authentic Food Company; Thomas Sanderson; Sharpstream Lifesciences and Equifax.
“Who needs Harvard Business School when you can have coffee in Alderley Edge?”
To learn more about Apple Childcare Vouchers visit their website.
Copies of Malcolm McClean’s books can be purchased online from Bearhunt.
I have attached a link to a snapshot survey which focuses on childcare vouchers. The survey looks into the importance of employee benefits and in particular childcare vouchers. It looks in to the number of surveyed companies which offer childcare vouchers, if not, why not and how offering childcare voucher schemes can benefit organisations. It’s a good article and quite interesting.
http://epidm.edgesuite.net/RBI/personnel/ptres/Images/HRPanel1.pdf