Apple Childcare Vouchers

There are many misconceptions about childcare vouchers and many individuals are missing out on potential huge savings because they don’t understand the scheme, or they are not aware that such a scheme is available through their employer.

The first misconception about childcare vouchers is that it is only for young, nursery aged children. Wrong, this is not the case. Childcare vouchers can be used up to the age of 16! Therefore, the vouchers can continue to be used through school age for before and after school clubs, for holiday play schemes and for summer camps. Many parents only have these holiday costs in the summer holiday for example, so why not have vouchers each month, spread the cost of  what can be very expensive AND save the Tax and National Insurance on the fees.

Misconception number two is that when the word childcare is sometimes mentioned, it is often perceived that this is something that the mother deals with and therefore the father doesn’t need to get involved. Wrong, childcare vouchers are available per employee, meaning both parents can claim the childcare vouchers. Therefore if both parents took the maximum of £243 per month in vouchers, the family saving can be as high as £2,392 per year!

Parents also need to be aware that childcare vouchers can be used for any registered childcare provider. This basically means any childcare provider that is registered through Ofsted or an equivalent authority. This includes nurseries, childminders, nannies, before and after school clubs, holiday play schemes and summer camps.

The final misconception that I want to discuss is the employer often believes that it will cost too much or be an administrative burden to offer a scheme to employees. Firstly, the employer will save the employers National Insurance contributions, 12.8% of the voucher value, minus the providers commission fee. Apple Charge between 2.5% and 3.75% (depending on the size of the organisation) of the voucher value meaning the employer will save between 10.3% and 9.05%. This can be a considerable saving to employers.
With regards to the administration, Apple Childcare Vouchers have developed a seamless system that enable employers and employees to have complete visability and control. The only administration involved for the employer should be to reduce the employees salary and pay the invoice to Apple Childcare Vouchers. Everything else is managed by Apple.

Childcare vouchers should be made as simple and easy as possible for employers, employees and childcare providers and Apple have developed a system that provides just this.