Many working parents eligible for tax-free childcare this summer

Many working parents eligible for tax-free childcare this summer

04 Jul 2019

Working parents could ease this summer's childcare costs by using a Tax-Free Childcare (TFC) account that's worth up to £2,000 a year for each child.

The TFC account allows parents to save regularly for childcare costs. And for every £8 saved the government will make a top-up payment of £2.

The money saved can be put towards a range of childcare options from more than 68,000 childcare providers that have signed up to the scheme. These include summer camps across the UK, as well as before and after school care during term time.

The scheme is open to working parents, including the self-employed, who earn between the minimum wage and £100,000 per year and have children under the age of 12, or under 17 for children with disabilities.

The government will top-up up to £500 per quarter for each child, or £1,000 if the child is disabled.

Commenting on the scheme, Liz Truss, Chief Secretary to the Treasury, said: 'We understand making arrangements for summer childcare at this time of year is important and can be a stressful time for parents.

'TFC makes things easier, putting more money in the pockets of parents and supporting as many families as possible to secure high-quality, affordable childcare.

'Parents should visit the Childcare Choices website and take advantage of the range of offers to help balance their work and family lives while saving money.'

The Childcare Choices website can be accessed here.

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