TEDS Childcare Vouchers and childcare tax relief benefit in kind for employees of SME companies – TEDS Group benefit in kind workplace nursery benefit scheme, TEDS Premier.

TEDS Premier - reduce your nursery fees by up to 50%

TEDS Premier is the ultimate in tax relief schemes for employees with children and depending on your income TEDS Premier can reduce nursery fees by up to 50% per annum.

TEDS Premier is FREE for parent employees of companies which operate the scheme and works like any other salary sacrifice scheme. The savings that can be gained with TEDS Premier, may be substantial.

With TEDS Premier, your are entitled to 100% tax relief and 100% NI relief for your annual nursery fees, which may be a significant saving for many employees in comparison to the tax-relief benefits which can be obtained through Childcare Vouchers.

Your nursery provider will also benefit financially from signing up to TEDS Premier, as they receive an attractive annual incentive payment, plus they are guaranteed to receive regular payments towards your childcare, up-front every month, on the 1st working day of the month.

Because TEDS Premier is a salary sacrifice scheme, lower paid employees in particular may not be able to realise the additional benefits that TEDS Premier can offer. Therefore as a general rule for lower paid employees, you should seek advice from the Government’s Working Family Tax Credit System. Each employee is advised to check their own personal circumstances prior to enrolling with TEDS Premier. TEDSgroup will provide you with an individual illustration, based on your own personal circumstances. Complete the Parent’s Questionnaire on line and a personal savings statement will be sent to you directly.

100% childcare tax benefit for employees

TEDS Premier is a salary sacrifice scheme which enables employees to access 100% personal tax savings and 100% of national insurance contributions savings, on their annual nursery fees. For higher earners, this can equate to up to 50% off their annual nursery fees. For workers on an average salary, the tax savings can be significant.

TEDSgroup will calculate the tax savings for each employee who is enrolled in TEDS Premier. This will be provided for you by your account manager or complete the Parent’s Questionnaire on line and a personal savings statement will be sent to you directly.

The origins of TEDS Premier – the premier workplace nursery benefit

In 1990 the Government introduced legislation which enabled access to additional childcare tax benefits. Large companies immediately took advantage by introducing their own ‘blue chip’ schemes. Recognising that SME (Small & Medium sized Enterprises) businesses would be more competitive if they could access the same employee benefits as the larger companies, TEDSgroup introduced the UK’s first workplace nursery benefit scheme for SME employers in 1996.

TEDS Premier is the small/medium sized employer friendly tax efficient scheme designed specifically to enable employee parents to obtain maximum tax-relief for their nursery fees. The TEDS Premier tax-relief scheme has been provided by TEDSgroup for parents, employers and nursery providers, since 1996, following extensive research and development to ensure that the scheme fully complied with legislation.

The TEDS Premier scheme is a workplace nursery benefit, enabling parents, employers and childcare providers, exclusive to nurseries, to derive financial benefit in a unique way.

What are the main benefits of TEDS Premier for employees?

There are a number of benefits to be gained for parents who enrol on TEDS Premier.

  • TEDS Premier is fee free.
  • TEDS Premier allows you to save up to 50% savings off nursery fees.
  • TEDS Premier eases the financial strain every month
  • TEDS Premier is welcomed by a large number of nursery providers, who will also gain financially from participating in the TEDS Premier scheme.
  • TEDS Premier is an HMRC friendly scheme and is run by tax-experts.

Do many Nursery Providers accept TEDS Premier?

Currently a significant number of nursery providers will accept TEDS Premier as the scheme is operated nationally and is growing. However in the event that a preferred nursery provider isn’t actively registered, TEDSgroup can help expedite the process as there are attractive financial incentives and marketing advantages for nursery providers offering TEDS Premier to parents. There are a number of nursery providers that are excluded from TEDS Premier and you need either to check on line or speak to a member of the TEDSgroup Team.

TEDS Childcare Vouchers and childcare tax relief benefit in kind for employees of SME companies – TEDS Group benefit in kind workplace nursery benefit scheme, TEDS Premier.