Childcare Vouchers NEWS and tax relief NEWS for childcare – TEDS Group benefit in kind workplace nursery scheme.

News Headlines:



6/4/17 HM Government launches Childcare Choices portal
At the start of the 17/18 Tax Year, HM Government launches Childcare Choices portal, providing information for HMRC childcare costs initiatives.
8/3/17 What is Tax-Free Childcare (TFC)
A brief look at the new Tax-Free Childcare (TFC) Government initiative.
8/3/17 Childcare Initiatives 2017
Budget Announcement Chancellor of the Exchequer Phil Hammond 8th March 2017 about Tax-Free Childcare Initiative.

What is Tax-Free Childcare (TFC)

Date added: 8/3/17

What is Tax-Free Childcare (TFC)

Tax-Free Childcare (TFC) is the new childcare benefit available from April 2017, which allows parents to put money into an HMRC online account for each of their children from birth to 12-years old.

Put very simply, for each 80p the parent puts into the account, HMRC will top it up with 20p, up to a maximum of £10,000 per annum, per child. The money can only be used to pay to an Ofsted or equivalent registered childcarer.

Both parents need to register with HMRC and both parents will need to re-confirm their eligibility every three months in order to continue obtaining the benefit.

As the benefit is no longer an employer benefit, both employed and self-employed parents will be able to access this benefit.

For further information please to see what help you can get with childcare costs under the TFC scheme please visit https://www.gov.uk/childcare-calculator.

Childcare Vouchers NEWS and tax relief NEWS for childcare – TEDS Group benefit in kind workplace nursery scheme.