New Tax-Free Childcare Scheme for 2017

From early 2017 Government will provide Tax-Free Childcare, a new scheme which will enable parents to claim 20% of their childcare costs (up to a maximum of £2,000 per child).  Parents will register for an online childcare account through the Government website GOV.UK. HMRC will check that you are eligible to join the scheme e.g. both parents must be working. For every £8 you pay into your account, the Government will give you £2, up to a max. of £2,000 per year per child (i.e. you would need to put in £8,000 for the Government to top up your account with £2,000). While one scheme may work best for one family, it may not be as beneficial for  others therefore assessment is vital. Read more.