Raising a family is demanding and worrying about the cost of childcare can affect the stress levels and concentration of employees. Childcare vouchers are a government-led initiative, allowing working parents or guardians to make huge savings on childcare costs.
For each employee that signs up, you can save up to 13.8% in National Insurance contributions or up to 28.1% for those employees paying into the NHS Pension Scheme.
*Savings of up to £1,150 per year realised for employees paying into the NHS Pension Scheme. Savings of up to £1,150 are achieved through a salary sacrifice arrangement for a basic rate tax payer where Income Tax, National Insurance and NHS Pension Scheme contributions are reduced. Savings of up to £933 realised for employees not contributing into the NHS Pension Scheme. All savings depend on individual tax and NHS Pension Scheme situations. Figures are a guide only.
Parents can make huge savings per year on childcare costs.
Government-led initiative.
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