TEDS Premier - reducing nursery fees by up to 50%
TEDS Premier is the original and leading workplace nursery benefit scheme for employees of SME businesses. The TEDS Premier workplace nursery benefit scheme is an HMRC friendly benefit scheme for employees with children and can reduce nursery fees by up to 50% per annum.
With TEDS Premier, your employees are entitled to 100% tax relief and 100% NI relief of their total annual nursery fees, which is a significant saving for many employees in comparison to the maximum tax relief which can be obtained through Childcare Voucher provision.
The cost neutral employer TEDS Premier product is a salary sacrifice scheme enabling you to recruit and retain key staff by providing your employees with the finest workplace nursery scheme available in the UK.
The TEDS Premier scheme is easy to administer, however TEDSgroup understands that TEDS Premier may seem confusing for companies new to workplace nursery benefit programmes, therefore you can access expert advice, by getting in touch with a member of the team today.
As each employee’s circumstances will differ, employees should be certain that they will benefit from participating in a salary sacrifice scheme like TEDS Premier, prior to enrolling. As a general rule for lower paid employees, they may be advised to seek benefits 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.
100% childcare tax benefit for employees
TEDS Premier is a salary sacrifice scheme which enables employees to access 100% personal tax and 100% of their national insurance contributions, on their annual nursery fees. For higher earners, this can equate to up to 50% off their annual nursery fees. For workers on the average salary, the tax savings can be significant.
TEDSgroup will calculate the tax savings for each employee who is enrolled in TEDS Premier. The employee should complete the Parent’s Questionnaire to obtain a personal quotation.
The origins of TEDS Premier – the premier workplace nursery benefit
Following Government introduction of additional childcare tax benefits in 1990, many large companies immediately took advantage by introducing their own ‘public sector’ and ‘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 ultimate tax efficient scheme designed specifically to enable employee parents to obtain maximum tax-relief for their childcare or nursery fees. The TEDS Premier tax-relief scheme has been provided by TEDSgroup for parents, employers and childcare providers, since1996, following extensive research and development to ensure that the scheme fully complied with ‘Revenue rules’.
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 employers?
There are a number of benefits to be gained for SME employers looking to introduce the TEDS Premier workplace nursery benefit scheme.
- TEDS Premier is a cost neutral, free of charge scheme.
- TEDS Premier allows SME businesses to provide up to 50% savings off nursery fees for employees.
- TEDS Premier is simple to administer.
- TEDS Premier is welcomed by a large number of nursery providers, who also gain financially from participating in the TEDS Premier scheme.
- TEDS Premier is an HMRC friendly scheme and is run by tax-experts.
- TEDS Premier can help you improve staff retention and attract higher quality staff, through provision of the best workplace nursery benefit scheme in the UK, provided exclusively by TEDSgroup.
Do many Childcare Providers accept TEDS Premier?
Currently a significant number of childcare providers will accept TEDS Premier as the scheme is operated nationally and is growing. However in the event that a preferred childcare provider isn’t actively registered, TEDSgroup can help expedite the process as there are attractive financial incentives and marketing advantages for childcare providers offering TEDS Premier to parents. There are a number of childcare providers that are excluded from TEDS Premier and you need ether to check on line or speak to a member of the TEDSgroup Team.
