Sign up to save money
on your child care costs Working and bringing up a family can be a demanding combination and worrying about the cost of childcare is something that most families can do without.
The MOD launched its childcare voucher scheme to help armed forces employees save money on their childcare. At present parents can save up to £1195 per year each in Tax and National Insurance by using vouchers to pay for childcare costs.
Childcare vouchers can be used to pay any Ofsted-registered carer, including nurseries, childminders, nannies, play schemes, out-of-hours school clubs and holiday camps, plus the boarding element of most boarding schools.
There was an announcement recently from Gordon Brown to say that the Labour Party intends to withdraw the tax benefits of childcare vouchers.
If the plan is made law, then from April 2011, employees who join an employer-supported voucher scheme will not be entitled to the existing tax and NI exemptions.
The announcement said that existing recipients of vouchers will be unaffected until April 2015, as would any parents who sign up to a childcare voucher scheme before April 2011. After 2015 the tax and NI exemptions for vouchers will be withdrawn completely. Thousands of parents already benefiting from these schemes are protesting against this plan.
Whatever happens now is a great time to find out about your entitlement to tax and NI savings on your childcare costs. Civilian and Military personnel should visit
www.modchildcare.
co.uk or call 0800 085 2875 to find out if you could be saving up to £1195 per parent per year.
www.raf-ff.org.uk
Winter 2009
17
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