Like all good ideas, the YellowNest approach is remarkably simple.
If you are an employer
For each employee in your childcare salary sacrifice scheme, you’ll pay less National Insurance (NI) – an annual saving per head of more than £1,500.
We’ll help you establish the scheme and promote it to your workforce. For each employee accepted into it, YellowNest charges a monthly subscription per child/employee – leaving you with a considerable saving.
Participating in the scheme also gives you a valuable no-cost workplace benefit – to help you attract the talent you need and generate loyalty in the staff you already have.
If you are a parent
We offer a new way for you to fund your childcare. Having the fees deducted straight from your pay provides tax breaks, when an employer is seen to provide a nursery.
We make it easy. If your employer doesn’t have such a scheme in place, YellowNest will work with them and you to set it up, so that your payment goes to your childcare provider. If you don’t have a provider, we can [help you] contact local nurseries to give you options.
We’ll keep you informed on how much Income Tax and National Insurance you save. Our system can increase take home pay by thousands of pounds a year.
If you run a nursery
When a parent enters into a salary sacrifice arrangement to pay for childcare with you, we’ll contact you to make the necessary arrangements.
As a result of participating in a YellowNest salary sacrifice scheme, your income will increase. In addition to the childcare fees, you will receive a monthly payment from us. The amount will depend on how much tax your parent saves through our system.
Your nursery will also have a higher profile in that workplace, increasing the chance of attracting new customers who also want to take advantage of our scheme. Want to know more? We’ve prepared answers to questions you may have.
Why this matters
High-quality childcare is good for our economy, social equality and future generations.
However, many UK nurseries are struggling financially. It’s also estimated that a lack of access to childcare forces 50,000 people a year to give up work, especially women.