With February half term approaching, thousands of working families are being urged to not miss out on the opportunity to get financial help with childcare costs.
Tax-Free Childcare – the 20% childcare top-up – provides eligible working families with up to £500 every three months (or £1,000 if their child is disabled) towards the cost of holiday clubs, before and after-school clubs, childminders and nurseries, and other accredited childcare schemes.
It’s available for children aged up to 11, or 17 if the child has a disability, and for every £8 deposited into an account, families will receive an additional £2 in government top-up.
Myrtle Lloyd, HMRC’s Director General for Customer Services, said, “The 20% government top-up offers working families help to pay for childcare, whether it’s nursery bills, after school clubs or holiday clubs. Search ‘Tax-Free Childcare’ on GOV.UK to find out more.”
Helen Whately, Exchequer Secretary to the Treasury, added, “Whether it’s for holiday clubs, breakfast clubs, or childminders and nurseries, Tax-Free Childcare is a great offer that gives working parents a helping hand with their childcare costs.
“This government is committed to supporting working families which is why it’s fantastic that thousands more are saving money through the Tax-Free Childcare scheme. I urge as many parents as possible to take advantage of this support.”
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