Many parents will not realise that they are actually entitled to help with paying for their childcare through a government-funded Tax-Free Childcare scheme. If you are eligible for Tax-Free Childcare, you can be granted £500 every three months (this equals to £2,000 per year) to go toward the childcare of each of your children. To summarise: the government contribute £2 for every £8 paid to the provider of your childcare through an online account.
As expected, there are certain criteria you must fit to be eligible to claim this financial support. Check below to see if you could save money on your childcare.
You are eligible if…
- You (and your partner, if you have one) are in work. Alternatively, you can be on parental leave, annual leave or sick leave
- You (and your partner, if you have one) are both earning the national minimum wage or living wage for at least 16 hours per week. If you are 25 or over, this will equal to £125.28
You are not eligible if…
- Your child does not ordinarily live with you
- The child you require help for is your foster child
- You (or your partner, if you have one) have a taxable income of over £100,000
- You are from outside the EEA and your UK residence card states that you cannot access public funds
Please note – you cannot be eligible for Tax-Free Childcare alongside claiming Working Tax Credit, Child Tax Credit, Universal Credit or Childcare Vouchers.
To find out more about opportunities for financial support with your childcare, please visit the government website.
For more information about our nursery, please feel free to contact our friendly team.