Working Dads take-up Early Years Vouchers childcare allowance scheme at Calyon investment banking

  • Over three quarters of take-up from working Dads
  • Early Years Vouchers Ltd (EYVL) achieves significant take-up by male-dominated Calyon workforce
  • Enables working Mums and Dads to save a combined total of up to £2391.12 pa on Tax and National Insurance for childcare fees

Manchester, UK - 20 November, 2007 - Early Years Vouchers Ltd, one of the UK's leading childcare allowance organisations, has announced that the London-based division of Calyon, Crédit Agricole's corporate and investment banking entity, has noted a consistent increase in the take-up of tax-free childcare vouchers by eligible employees, especially amongst working Dads. Currently, 77 per cent of Calyon employees who use Early Years Vouchers are working Dads. The increase in working Dads using EYVL's scheme means that more couples are now taking advantage of a combined saving of up to £2391.12 per annum towards childcare fees.

Calyon decided to implement the voucher scheme because of its ease-of-use and parent 'help' service, which answers queries and provides advice on childcare benefits, in addition to the significant tax savings of up to £1,195 per employee on a wide variety of childcare options including nannies, holiday clubs and breakfast clubs. The scheme also provides a number of benefits for employers because it is self-financing. Research by HMRC shows that beneficial childcare schemes help improve staff recruitment and retention levels.

Hazel James, Manager Compensation, Benefits and Services Group, Human Resources at Calyon, said: "We implemented Early Years Vouchers Ltd because it is a completely self-sufficient service and works very efficiently without the need for any input from us. There has been a positive take up of the scheme and we've received good feedback from our employees.

"Two of the main benefits of Early Years Vouchers Ltd is that staff find the process easy and they like the website because it requires minimal effort. Calyon benefits from the simplicity and efficiency of the system. Early Years Vouchers Ltd provides parents with personal one-on-one support to answer any queries at no extra cost to us," continued Hazel James.

"There are still too many parent workers who are unaware that they are entitled to Income Tax and National Insurance savings on the first £55 per week of their childcare costs," commented Amanda Ward, Director of Early Years Vouchers Ltd. "With the help of companies like Calyon we are able to educate working Mums and Dads on their legislative rights. We are pleased to see an increasing number of working Dads taking advantage of our scheme - if both parents register to receive Early Years Vouchers, they could benefit from a combined saving of up to £2391.12 per annum."

About Calyon:
Calyon is a global company with 13,000 employees in 55 countries and a UK presence based in London. It was formed from the merger of Crédit Agricole Indosuez and Crédit Lyonnais' Corporate and Investment Banking division and its activities are grouped into two major divisions - the Capital Markets & Investment Banking Division and the Financing Division. Calyon is a leading player in financial markets. For more information see www.calyon.com

About Early Years Vouchers Ltd:
Early Years Vouchers Ltd is one of the UK's leading childcare voucher companies. Founded in 2004, the company operates one of the UK's most advanced fully functional online childcare voucher systems for parents, carers and employers of any size - from large nationwide organisations with many thousands of employees to small companies with just two or three. The scheme enables each parent to achieve significant cost savings for the 2006-2007 tax year of up to £962.28 per year for a 22% tax payer and £1,195.56 per year for a 40% tax payer. Additional information is available at www.childcare-vouchers.net or contact:

Amanda Ward
Director
Early Years Vouchers Ltd
Tel: 0161 613 9163
Email: award@earlyyears.net

Manuela Whittaker
ThePressOffice - PR for Early Years Vouchers Ltd
Tel: 01780 721433
Email: mwhittaker@pressoffice.targetwire.com

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