There was another item of importance to Employee Benefit provision tucked away in the Budget 2016 document, and it relates to the long-running theme of Childcare Vouchers and their proposed replacement Tax Free Childcare.
The document text of importance here is this:
“From early 2017, the government is introducing Tax-Free Childcare to help working parents with the cost of childcare, ensuring more parents who want to can go out to work or increase the number of hours they work. Tax Free Childcare will be rolled out in such a way that allows the youngest children to enter the scheme first, with all eligible parents brought in by the end of 2017. The existing Employer-Supported Childcare will remain open to new entrants until April 2018 to support the transition between the schemes.”
The last sentence is the important one here. This is confirmation of when the “end date” for new entrants to existing Childcare Voucher arrangements will be. This also suggests that there will be a period of dual-running between the schemes, which will hopefully result in many more parents making the right decision to maximise this important state financial support.
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