Childcare is, as you will know, very expensive and for some parents, monthly childcare costs can be more than the cost of a mortgage or rent.
You may be using Tax-Free Childcare to help pay the fees at a nursery setting but this is not available to all parents, depending on salary levels.
We are keen to help our working parents with the cost of childcare. Once you pass your probation period, you have access to a new benefit called the Workplace Nursery benefit. This benefit enables parents who use a nursery for the care of their children up to the age of 5, to have the entire nursery fees paid each month by the company, direct to the nursery. Your monthly nursery fees, including the cost to use the benefit, are then recouped back from your monthly gross salary. This means you save Tax and NI on the full amount of your fees and not just the value of Tax-Free Childcare.
Important: To access this benefit, your nursery fees must be a minimum of £1,000 per month.
As a basic rate tax-payer, if you have nursery fees of £1,300 a month the savings with this benefit becomes £3,937 per annum compared with savings of just £2,000 with Tax-Free childcare. As a higher rate tax-payer, the savings are £5,684 per annum.
The company will provide additional funding to the nursery. This is set at a maximum amount of £1,200 per annum and the nursery receive this in monthly increments of £150.
There must be a relationship between the nursery and the company. As such you are required to have a telephone meeting with the nursery and Enjoy Benefits within the first six weeks of the contract going live. In the meeting, you will be acting as a representative of your employer. Enjoy Benefits will document the meeting and send meeting notes to all parties. During the meeting, the running of the nursery will be discussed and reviewed. Following this discussion, it will be agreed on how the funds from the company are to be spent to best ensure the smooth running and upkeep of the nursery. You will also be asked if there are any additional resources that the business could provide to the nursery that will help with the day-to-day activities.
If you would like to find out how much you can save, please create an account with Enjoy Benefits using the company access key provided (Insert access key code here: L1RCZT4). If you have any problems creating an account you can call Enjoy Benefits on 0800 088 7315
Please note that if you are to voluntarily leave the company for any reason, the remaining monthly increments made by Automata of £150 will be deducted from your final pay.
Employee information pack attached here:
EB-WNB employee information pack-FNL.pdf
Intro Webinar here:
Workplace Nursery webinar (2022-07-13 04_33 GMT-7).mp4