Caporegime
Disclaimer: I've researched arrangements in England. Arrangements in the provinces may be different and you may be lucky enough to already receive some of the following...
If people weren't aware, there are some new childcare arrangements kicking in this year that could save you some cash, with savings typically exceeding the benefit from childcare vouchers (the schemes are mutually exclusive).
From April this year you'll be able to apply for a new government 'tax-free' childcare account, where you'll get 20p for every 80p you put in.
Free childcare allowance is also being extended from 15 hours per week (for 38 weeks of the year) to 30 hours for 3 and 4 year olds, from September this year. 15 free hours is also being extended to certain 2 year olds (though I'm confused by the eligibility criteria on this one).
The key points I've gathered are:
If people weren't aware, there are some new childcare arrangements kicking in this year that could save you some cash, with savings typically exceeding the benefit from childcare vouchers (the schemes are mutually exclusive).
From April this year you'll be able to apply for a new government 'tax-free' childcare account, where you'll get 20p for every 80p you put in.
Free childcare allowance is also being extended from 15 hours per week (for 38 weeks of the year) to 30 hours for 3 and 4 year olds, from September this year. 15 free hours is also being extended to certain 2 year olds (though I'm confused by the eligibility criteria on this one).
The key points I've gathered are:
- If you have a child under the age of 12, you'll get 20p from the government for every 80p you provide up to £2k
- Neither you nor your partner can be earning more than than £100k to be eligible (is how I've interpreted the wording on the government website)
- If you have childcare vouchers via your employer, you'll need to stop these before you can get the 20p / £1
- If you currently receive 15 hours free childcare per week for your 3/4 year old, you'll be able to get 30 hours when the scheme kicks in
- If you have a 2 year old in childcare, you may be able to get 15 hours free for them too
- Clear and easy to understand site showing possible entitlement etc: https://www.childcarechoices.gov.uk/
- Detailed better / worse calculator: https://www.gov.uk/childcare-calculator
- Money saving expert info: http://www.moneysavingexpert.com/family/tax-free-childcare
- DFE operational guidance for local authorities and childcare providers (also mentions what parents have to do): https://www.gov.uk/government/publications/30-hours-free-childcare-la-and-early-years-provider-guide
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