You may be aware that the government proposed to close the existing ‘Childcare Vouchers Scheme’ (CVS) to new entrants from 6th April 2018. This scheme, in a lot of cases, is more beneficial than the new scheme introduced as its replacement – Tax-Free Childcare (TFC).
However, following a parliamentary debate after the Chancellor’s Spring Statement in March 2018, the Government announced they would keep the existing scheme open to new entrants, for a further 6 months.
The old scheme will now close to new entrants on 3rd October 2018. From 4th October 2018, new entrants will no longer be eligible for CVS and the only option left will be to register for the TFC scheme. For monthly paid employees, this will mean that the last opportunity, for new entrants, to purchase these vouchers, will be in their September pay. If you believe this scheme would benefit you, please act now.
Please see our original blog for more details here