Working parents are eligible for tax-free childcare
August 3rd 2019 by Admin
The government is reminding working parents that they could ease this summer’s childcare costs by using Tax-Free Childcare (TFC).
The scheme is worth up to £2,000 a year for each child and allows parents to save regularly for childcare costs. For each £8 saved the government will make a top-up payment of £2. The money saved can be put towards a range of registered childcare options from more than 68,000 childcare providers. These include summer camps across the UK, as well as before and after school care during term time, nurseries and childminders.
The scheme is open to working parents, including the self-employed, who earn between the 16 hours a week at the minimum wage and £100,000 per year and have children under the age of 12 (or under 17 for children with disabilities).
The government will top-up up to £500 per quarter for each child, or £1,000 if the child is disabled.