Tax-Free Childcare is a tax efficient way of helping towards the cost of childcare.
For every £10 you spend on childcare the Government will top up your account with £2.50 – the equivalent to the basic rate of tax (20%) and gives the scheme its name, Tax-Free Childcare.
You can get up to £500 every 3 months (totalling £2,000 per year) for each of your children to help towards the cost of their childcare; this allowance increases to £1,000 every 3 months if a child is disabled (a total of £4,000 per year).
Find out more about Tax Free Childcare in our fact sheet.
To discuss this further please get in touch with a member of our team.