HMRC urges one million working families to claim £500 tax-free boost every three months
HM Revenue and Customs is reminding eligible working families that they can save up to £2,000 a year on childcare costs with a unique tax-free UK Government scheme. Tax-Free Childcare has helped 38,495 families in Scotland save on childcare during the 2022 to 2023 financial year, an increase of more than 9,300 from the previous year.
Working families, with children up to the age of 11, or 16 if their child has a disability, can save up to £2,000 a year per child or £4,000 a year if their child is disabled. For every £8 paid into a Tax-Free Childcare account, families automatically receive an additional government top up of £2.
“Parents should check their eligibility and apply online, the top-up could make a big difference to working families at a time they need it most.” Top Money Stories Today Eligibility for Tax-Free Childcare More than one million families could be eligible for Tax-Free Childcare. Families who haven’t signed up should check their eligibility and sign up to start saving today.
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