Childcare tax relief and salary sacrifice schemes for workplace nursery benefit schemes, TEDS Premier.

Why TEDS Premier

TEDS Premier is a salary sacrifice scheme for parents in employment. The scheme is a benefit scheme which was developed by TEDSgroup in 1995 and introduced to the market in 1996. All of the calculations and paperwork are completed by TEDSgroup in consultation with your parents’ employers, who will implement the scheme in the workplace.

By offering the TEDS Premier scheme to parents, they will be able to get 100% tax relief (100% personal tax and 100% national insurance) on their childcare costs. As you will be aware, this can represent a huge saving, up to 50%, which is only accessible by parents who are enrolled with TEDS Premier. Once enrolled, these parents will be actively seeking childcare providers who are registered with TEDSgroup.

For your childcare provider business, it makes perfect sense to be able to provide this service for your parents, especially when you receive £400 incentive every year, for every parent who is signed up with TEDS Premier. This gives you extra revenue and makes your childcare costs much more competitive than other nurseries that may not be aware of the TEDS Premier scheme.

Because TEDSgroup is run by tax experts, you, your parents and their employers can receive expert advice, prior to setting up the scheme and, for any issues that you may want to clarify. The TEDS Premier scheme is very simple once it is in place and will make you a more attractive childcare provider in your local area.

It is very important to note that because TEDS Premier is a salary sacrifice scheme, every parents’ tax position will be individual and unique to them. There are some cases, for example, with lower paid workers, when it may be more beneficial to use the Working Family Tax Credit system. If parents have any doubt, or if they need to check if their benefits will be affected, they should seek advice from HMRC or their Personnel department about the Working Family Tax Credit system prior to enrolling with TEDS Premier.

Childcare tax relief and salary sacrifice schemes for workplace nursery benefit schemes, TEDS Premier.