If your employer operates a childcare voucher scheme, you can save National Insurance and Income Tax. By registering for your employer's scheme, up to £55 a week (for basic rate taxpayers) can be deducted from your salary and used to provide childcare vouchers for the same amount. This amount, which is deducted from your gross salary, is then exempt from National Insurance and Income Tax. Childcare Vouchers are being replaced by Tax-Free Childcare which is being phased in from April 2017.
To join tax-free childcare (TFC), parents must set up a joint online childcare account (JOCA). To be eligible to do so, they must both have earnings (or earnings from self-employment) of at least 16 hours a week at the national minimum wage and maximum household income of £100,000 per parent.
Parents make a quarterly assessment of their childcare costs per child and deposit those monies into their JOCA. This is topped up by HMRC at a rate of 20%, such that the maximum childcare costs that can be covered per year per child are £8,000 from the parents and £2,000 from HMRC (double this amount is available to parents of disabled children).
Yellow Dot is approved for the 2 Year Old Early Years Education scheme. Eligible 2 year old children receive a government grant for a place for a maximum of 570 hours per year. This can provide 15 hours a week for the 38 weeks during school term, or on the "Stretched" offer this can be taken as 11 hours a week over 51 weeks.
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Free Early Years Education (EYE) is a government grant which funds all children aged 3 & 4 years old to have free education before they start school. The government grant provides for a place for a maximum of 570 hours per year. This can provide 15 hours a week for the 38 weeks during school term, or on the "Stretched" offer this can be taken as 11 hours a week over 51 weeks. From September 2017, working parents of 3-and 4-year olds who work more than 16 hours per week and earn at least £120 per week for parents aged over 25 years or £112.80 for parents aged between 21 and 24 years old, will be able to access an additional 570 hours per year of free Early Years Education
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If your child is 3 or 4 years old and receiving free early years education then their childcare provider could claim an additional £302 per year for each child. Parents are encouraged to apply for EYPP is they are in receipt of certain benefits (Income Support, Income based Jobseekers Allowance, Income related Employment and Support Allowance, Child Tax Credit, Working Tax Credit) or if your child has been looked after by the Local Authority, been adopted from care or is subject to a Child Arrangements Order. The premium can be spent on supporting the development, learning and care of children.
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We offer a 5% discount for one twin sibling until the age of 3. We also offer a 5% discount for children who attend full time.
You can order a claim pack over the phone by calling the tax credits helpline on 0845 300 3900. For more information on eligibility and how to claim tax credits, you can visit www.taxcredits.inlandrevenue.gov.uk
Before your child starts at nursery we will invite you to come along for several introductory sessions. This will be an opportunity for you and your child to get to know us, and for us to get to know you. We will go through the Nursery routines and find out about your child's routines, likes and dislikes.
We understand that the costs of childcare can be a significant amount of your monthly budget. We encourage parents to talk to us if they are in financial difficulties to see what help we can provide.