Tax Free Childcare was set up by the government in 2017 to help working parents with the cost of childcare. To be eligible for Tax Free Childcare, a parent (and their partners if they have one) must earn at least the equivalent of 16 hours per week at the national minimum wage, have an eligible child ( under 12 or 17 if disabled) and earn under £100,000 each per year. Eligible parents are able to apply and open a childcare account online.
For every £8 families pay in, the government will pay in £2, up to a maximum government contribution of £500 every 3 months equating to £2,000 per child per year, or £4,000 for disabled children. You can use this to pay for regulated childcare. Further information and a calculator, to help you understand what government help you might be entitled to, can be found on the Childcare Choices website.
For full details on the scheme please visit: http://www.computersharevoucherservices.com/Pages/default.aspx or the Tax Free Childcare microsite: https://www.gov.uk/tax-free-childcare
A Guide for Employers and Parents and Computershare Voucher Services.
Scheme number is: 348488