Child Care Voucher Scheme
If you accept Child Care Vouchers and use SCO's Extended Day module, you will probably be recording voucher and provider details as part of the payment reference you record in SCO.
You may have heard in the news that the Government's new Tax-Free Childcare Scheme has rolled out as the successor to the existing Child Care Voucher Scheme for new applicants from April 2018, but did you know that the existing scheme will continue to be available to those already registered?
- The Tax-Free Childcare Scheme (TFCS) replaced the current Child Care Voucher Scheme for new applicants from April 2018.
- The new scheme allows parents to pay some of their taxed income into a dedicated online account. The Government will contribute 20p for every 80p the parent spends on childcare, to a maximum of £2,000 per child under 12 (or for disabled children £4,000 a year up to the age of 17).
Existing members of the previous Child Care Voucher Scheme can opt to swap to the new scheme (if eligible) or continue to receive employer funded Childcare Vouchers as they currently do until their child is 15 years old (or 16 years old if disabled).
If you don't use the SCO Extended Day module click here to find out more.