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The new Tax-Free Childcare scheme is now half way through its roll-out period. The first round of applications began in April 2017 and by the end of the year all eligible parents can apply. Potentially annual childcare costs of up to £10,000 per child can be met by £8,000 of payments by the parents and £2,000 by the government. For a disabled child, the maximum top-up payments are £4,000.
This is the first childcare scheme providing a tax break for the self-employed. However not everyone qualifies, and the qualifying conditions also need to be satisfied by the spouse or partner of the claimant.
The government has launched a website – Childcare Choices – which guides parents through the various ways help is, or will be, available. Please see: www.childcarechoices.gov.uk. It clearly and interactively guides a potential claimant through the types of childcare support available.
Of course, the scheme is not just for the self-employed – employees potentially qualify. If you are an employer, it would be a good idea to point your employees in the direction of the Childcare Choices site.
Why not contact Wilkes Tranter & Co Limited today for more information or a FREE no obligation quote.
Some employers may wish to give a small gift to their employees.
New company car advisory fuel rates have been published which took effect from 1 December 2019.