With the new school year fast approaching, HM Revenue and Customs (HMRC) is prompting families to make use of up to \u00a32,000 a year towards their child\u2019s wraparound care.<\/p>\n
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Working families can benefit from Tax-Free Childcare, which offers financial aid towards the expense of childcare for children aged 11 or under, or up to 17 for children with a disability.<\/p>\n
How does Tax-Free Childcare work?<\/strong><\/p>\n When families pay \u00a38 into a Tax-Free Childcare online account, they automatically receive a supplementary \u00a32 top-up from the Government.<\/p>\n Families obtain up to \u00a3500 every three months per child, which works out as \u00a32,000 a year. If the child has a disability, this increases to \u00a31,000 every three months, equalling to \u00a34,000 a year.<\/p>\n The support aims to contribute towards the cost of childminders and nurseries, before and after-school clubs, holiday clubs and other authorised childcare schemes.<\/p>\n An estimated 391,000 working families benefitted from Tax-Free Childcare in June 2022, receiving a share of \u00a341.6 million in Government top-up payments.<\/p>\n Are you missing out?<\/strong><\/p>\n Over one million families in the UK are entitled to Government childcare support, but thousands in need could still be missing out.<\/p>\n Those eligible for the support are being urged to get what they are entitled to, and this eligibility depends on:<\/p>\n It is important to note that adopted children are eligible for the support, but foster children are not.<\/p>\n Are you eligible? Take the next steps<\/strong><\/p>\n You can open a Tax-Free Childcare account at any time of the year. This can be used immediately, and money can be deposited and utilised when and where needed.<\/p>\n Deposited money that is unused can be simply withdrawn at any time.<\/p>\n\n