Are you losing out on tax free childcare?
Thousands of people are potentially missing out on claiming tax free childcare according to a report from HMRC.
The Government is reminding ‘stressed out parents’ that help may be available for childcare costs during the summer holidays. According to a YouGov poll, 31% of parents feel stressed trying to arrange childcare for the school holidays.
The poll, for HMRC, also found that around 30% of parents worried about balancing their job and school holiday childcare. With 54% admitting they look forward to their children returning to school in September.
HMRC is reminding working parents with summer childcare costs, that they can use Tax-Free Childcare (TFC), which is worth up to £2,000 per child per year, to pay for regulated holiday clubs during the school holidays. Parents are advised that it is possible to pay into their account regularly and ‘save up’ their TFC allowance and use it for childcare during school holidays.
Internet link: GOV.UK news