A government Tax-Free childcare scheme has been available for working parents including self-employed with children aged between 0 to 11, that could help reduce childcare costs for a while now.
That said, many parents are not taking up the offer of tax free childcare and this week HMRC has issued a reminder to tax specialists and agents such as ourselves to remind you, our clients, and ask you to also remind loved ones with young children of the same opportunity.
So here goes ….
Parents that are eligible can get up to £2,000 per child a year towards childcare. That could mean a person with 2 children could save £4,000 per year.
Parents can use this on registered childcare to include:
The scheme is also available to parents with disabled children age up to 16 (not 11) with a maximum government contribution of £4,000 per child a year.
For more information and how to apply visit www.childcarechoices.gov.uk