Claiming Tax Free Child Care Vouchers
Do you know you can use tax free childcare vouchers to pay for the holiday clubs ? Great!
Child care is free for kids between 2 to 4 years of age. Get support by claiming tax free child care vouchers to pay for holidays or support your daily living expenses. Also, free childcare help available to help with childcare costs if your child is under 16 (or under 17 and disabled).
For more info please visit www.childcarechoices.gov.uk
New scheme named TFC (Tax-Free Childcare) introduced in 2018 for new entrants. Previously childcare voucher scheme was available where employers can save has stopped in 2018 and employers cannot use this scheme anymore for new entrants.
If you eligible for TFC scheme, for every £8 you pay into an online TFC account, the government will add an extra £2, up to £2,000 per child per year.
Employers do not have a role in the Tax-Free Childcare Scheme, it is administered by HMRC and parents are responsible for managing their own Tax-Free Childcare online accounts. All the details are available including eligibility details and can set up online childcare account on the following link https://www.gov.uk/tax-free-childcare
Companies can also pay up to £243 monthly directly to registered childcare providers for their basic rate employees.
Please contact us if you have any questions.