HMRC has said that families may be eligible for Tax-Free Childcare (TFC) to help pay for breakfast clubs and after-school clubs as their children go back to school.
Eligible families can save money on their childcare and benefit from a government top-up worth up to £2,000 every year, or up to £4,000 a year if a child is disabled.
Almost 308,000 families across the UK benefited from making use of Tax-Free Childcare (TFC) in June 2021, but HMRC says thousands more families are eligible but are still missing out on the opportunity.
Tax-Free Childcare (TFC) is available to parents or carers who have children aged up to 11, or 17 if their child is disabled. For every £8 a parent or carer deposits into their Tax-Free Childcare (TFC) account, they will receive a £2 top-up, up to the value of £500 every three months, or £1,000 if their child is disabled.
The 20% top-up is paid directly into the Tax-Free Childcare (TFC) account and is ready to use almost instantly, meaning parents and carers can use the money towards the cost of childminders, breakfast clubs and after school clubs, and approved play schemes.
Myrtle Lloyd, HMRC’s Director General for Customer Services, said: ‘As your children head back to school this autumn, don’t miss out on the opportunity to receive your 20% top-up to help pay for their childcare.
You can find full details on Gov.uk