SAVE MONEY on TUITION FEES through childcare vouchers or working tax credits TODAY!!
STUDY PLUS CENTRE IS OFSTED REGISTERED
WHAT DOES THIS MEAN?
This simply means, we have up to date Safeguarding strategies and policies implemented, all staff taking on supervisory and/or unsupervisory roles have undergone Disclosure and Barring Service (DBS) checks, and two members of staff, on site at all times, have up to date Peadiatric First Aid training. Thus, giving you, as a parent, a peace of mind.
HOW CAN THIS HELP YOU AS A PARENT?
This can help you as a parent as we now accept a range of Childcare vouchers, ranging from KiddiVouchers and other schemes. You can also apply to see if you are eligible for support with tuition fees under the Working Tax Credit arrangements.
As a result, tuition fees can be paid via either method, Childcare vouchers or through Working Tax Credit arrangements. This can help you cover the cost of tuition, without compromising your child’s education.
WORKING TAX CREDIT:
See: https://www.gov.uk/tax-credits-calculator
Parents who enrol their children onto programmes at Study Plus Centre may be able to obtain assistance with tuition fees, under the Childcare element of Working Tax Credits.
Thus, subject to assessment via HM Revenue & Customs, parents may be entitles to gaining 70% off their tuition fees. As a result this allows parents to access our services in a much more affordable manner.
In order for you to be eligible to receive the Childcare element of Working Tax Credit, you need to be working 16 hours or more a week. You can only claim childcare costs for any child up to the Saturday following 1st September after their 15th birthday.
The maximum amount of help you may receive is as follows:
Number of children Weekly limit on costs Percentage of costs you can get help with Maximum tax credits for childcare
One child £175- 70% £175 x 70% = £122.50
Two or more children £300- 70% £300 x 70% = £210
CHILDCARE VOUCHER SCHEMES:
Childcare Vouchers are a type of ‘employer support childcare’. This works as a salary sacrifice scheme, where an employer pays the employee, partially, in the form of childcare vouchers, up to a value of £243 per calendar month.
These vouchers are beneficial as they are both tax and National Insurance free, thus of greater value than the cash equivalent. Moreover, both parents can receive Childcare Vouchers from their respective employer to use towards the tuition fees and therefore double the savings. The only requirement for you to take advantage of this scheme is that your child is aged 15 or under and that your employer is signed up to be part of it, you also need to have registered with a childcare scheme before 4 October 2018. Such vouchers can be used at approved centres, since Study Plus Centre is Ofsted registered, vouchers can be used here.
Basic-rate (20%) taxpayer: £55/week voucher, max annual tax/NI saving £930.
Higher-rate (40%) taxpayer: £28/week voucher, max annual tax/NI saving £630.
Top-rate (45%) taxpayer: £25/week voucher, max annual tax/NI saving £590.
There are a wide range of schemes operating from a variety of different providers. We are registered to accept a wide range of vouchers, please contact our office for further details.
Alternatively, call the working tax credit and child tax credit helpline on 0345 300 3900 for more information, or visit HMRC for more information.