How Can I Save Money On My Fees?
Many parents aren't aware of how they can save money on childcare costs. As well as paying by company childcare vouchers or government tax-free vouchers, there are several ways you can save money on fees:
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Level of Support |
Recipient Group |
Date Available |
For Further Information |
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Two-Year-Old Funding |
Up to 570 hours of free early education or childcare per year, usually taken as 15 hours a week for 38 weeks of the year. |
Families receiving relevant benefits (see further information), if child is "looked after", has an Educational Health & Care Plan or is receiving Disability Living Allowance. |
Present |
|
|
Three & Four-Year-Old Funding |
Up to 570 hours of free early education or childcare per year, usually taken as 15 hours a week for 38 weeks of the year. |
All families. |
Present |
|
|
Extended Entitlement (30 hours) |
An additional 570 hours in addition to the 3 & 4-year-old entitlement. |
Available for families where both parents are working (or the sole parent is working in a lone-parent family), and each parent earns the equivalent of 16 hours a week at the national minimum or living wage, and earns less than £100,000 a year. |
September 2017 |
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Childcare Element of Working Tax Credit |
70% of childcare costs up to a maximum of £175 per week for 1 child or £300 per week for 2 or more children. Families receiving housing or council tax benefit get extra help, amounting to about 96% of costs in England. |
Nearly 400,000 low income working families. |
Present |
|
|
Universal Credit |
85% of childcare costs, with same maximum levels as Working Tax Credit, although no extra help for those receiving housing benefit. |
Low income working parents |
Present |
|
|
Childcare Vouchers |
Worth up to £55 per week for basic rate tax-payers. |
Working parents, but not self-employed and usually excludes those receiving tax credits. |
Presently available, but will not accept new applicants after April 2018. |
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|
Tax Free Childcare |
20% of childcare costs up to a maximum of £2,000 per year. Families of children with SEND receive help up to a maximum of £4,000 per year. |
Working parents not in receipt of tax credits/Universal Credit whose gross household income is higher than a specified minimum threshold but less than £100,000 per parent. |
From early 2017 |
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Care to Learn |
£175 in London and £160 per week outside |
Parents under 20 at school or in further education |
Presently available |
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Discretionary Learner Support |
Discretionary |
Parents over 20 in further education |
Presently available |
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Childcare Grant |
£155.24 a week for 1 child. Up to £266.15 a week for 2 or more children |
Parents in full-time higher education who are eligible for student finance |
Presently available |
Childcare Vouchers
The new government tax-free childcare scheme has replaced the Childcare Vouchers used by parents. This is for new registrants only and parents who are already in a voucher scheme can continue to use their existing scheme to pay OOSC.
If you are already registered through your company childcare voucher scheme you can save up to 40% on your fees; making your fees tax-free. Payment is made directly to your voucher account from your wages, then transferred automatically to OOSC.
To find out more about the childcare vouchers accepted by OOSC click here