HM Revenue and Customs (HMRC) are today (18 October) encouraging families across the UK to not miss the opportunity for government-funded help towards their childcare costs.
Families could save up to £2,000 a year towards their childcare costs to help pay for October half-term holiday clubs and wraparound care during the school terms.
More than 391,000 families saved money on their childcare costs in June 2022, worth a total of £41.6 million in top-up payments, and HMRC is reminding thousands of other families to not miss the chance to save up to £500 every 3 months, or £1,000 if their child is disabled.
Families can sign up to Tax-Free Childcare to help pay for holiday clubs, before and after-school clubs, childminders and nurseries, and other approved childcare schemes. It is available to families with children up to the age of 11, or 17 if their child has a disability.
The government will pay 20% of childcare costs by topping up the money paid into a Tax-Free Childcare account. This means for every £8 paid into the online account, families will automatically receive an additional £2 in government top-up.
Councils are encouraged to amplify this reminder from HMRC as appropriate.
News story: https://www.gov.uk/government/news/2000-in-government-funding-available-to-help-with-childcare-costs
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