Many working parents eligible for tax-free childcare this summer

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.

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.

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2024 Blue Spire Limited (Brighton). All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Blue Spire Limited (Brighton) are Accountants in Brighton.

Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com


Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK