Hop to it: save on Easter childcare costs with Tax-Free Childcare
Working families can save up to 拢2,000 a year per child on their childcare bills with Tax-Free Childcare.
HM Revenue and Customs (HMRC) is reminding working families to save money on their childcare costs in time for the school holidays.
With the Easter break just weeks away, families yet to sign up for Tax-Free Childcare could be missing out on annual savings of up to 拢2,000 per child, or 拢4,000 if their child is disabled.
Tax-Free Childcare can help pay for approved childcare for children aged 11 or under, or up to 16 if the child has a disability. Parents can receive up to 拢500 (or 拢1,000 if their child is disabled) every 3 months, which means for every 拢8 paid into their online account, they will automatically receive an additional 拢2 top up from the government.
It takes just 20 minutes to apply online for a Tax-Free Childcare account and can be used to help pay for a child바카라 사이트檚 nursery, childminder, breakfast or after school club or holiday activity club. It can also be used alongside the 15 or 30 hours free childcare offer and to help pay for any specialist equipment needed for a disabled child when they바카라 사이트檙e attending childcare.听听
Myrtle Lloyd, HMRC바카라 사이트檚 Director General for Customer Services, said:聽聽
Springtime is a good opportunity to take a fresh look at family finances. A quick check online and you can find out how Tax-Free Childcare can help cut the cost of your childcare bills. Every bit of financial support helps 바카라 사이트� I would urge families to 바카라 사이트檋op to it바카라 사이트� and search 바카라 사이트楾ax-Free Childcare바카라 사이트� on 바카라 사이트 to find out how you could be better off and open your account today.
Once an account is opened, parents can deposit money immediately, so it is ready to be used whenever it is needed; and unused money in the account can be withdrawn at any time.听听
Families could be eligible for Tax-Free Childcare if they:바카라 사이트�
- have a child or children aged 11 or under. They stop being eligible on 1 September after their 11th birthday. If their child has a disability, they may get up to 拢4,000 a year until 1 September after their 16th birthday
- earn, or expect to earn, at least the National Minimum Wage or Living Wage for 16 hours a week, on average
- each earn no more than 拢100,000 per annum
- do not receive tax credits, Universal Credit or childcare vouchers
A full list of the eligibility criteria is available on 바카라 사이트.
Eligible working parents of 2-year-olds can now register to access 15 hours free childcare per week from April 2024, the first step in the rollout of the largest investment in childcare in England바카라 사이트檚 history.
The offer will expand to 30 free hours of childcare for working parents from nine months old up to when their child starts school by September 2025, and is set to save parents using the full 30 hours up to 拢6,900 per year.
Families can learn more about the childcare offers available to them and what could fit their family by visiting .听听
The government is offering . Check 바카라 사이트 to find out what cost of living support, including help with , families could be eligible for.
Further information
Read more information about Tax-Free Childcare and how to register.바카라 사이트�
Each eligible child requires their own Tax-Free Childcare account. If families have more than one eligible child, they will need to register an account for each child. The government top-up is then applied to deposits made for each child, not household.听听
Account holders must confirm their details are up to date every 3 months to continue receiving the government top-up.听听
Childcare providers can also sign up for a childcare provider account via 바카라 사이트 to receive payments from parents and carers via the scheme.听听
There were a number of measures to benefit working parents announced in the Spring Budget.