Tax-free childcare and childcare vouchers
The childcare vouchers scheme will not be available to new entrants after 5 April 2018. Instead the government has introduced tax-free childcare. This applies to working parents with children under 12 (or under 17 for disabled children). They need to open an online account to pay for registered childcare. The government tops-up the money parents pay into the account £2 for every £8 paid by the parent. They can receive up to £2,000 per child per annum, or £4,000 for a disabled child. As one would expect a number of conditions need to be met.
The Government also provides a good guide to the reliefs and benefits available for childcare in general which can be found at https://www.childcarechoices.gov.uk/ .Parents need to be determine which works best for them. If it is the traditional childcare voucher scheme then they need to ensure they are registered before 6 April 2018.
Date: 8th June, 2017
Articles from this Author
1st November, 2018
Budget 2018 - Entrepreneurs’ Relief
19th July, 2018
Update on Making Tax Digital
3rd May, 2018
Residential properties – time to incorporate?
20th March, 2018
International employees – Short Term Business Visitors
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole