Martin Lewis’ MoneySavingExpert reminds parents not to miss out on thousands of pounds of tax-free childcare
MARTIN Lewis’ MoneySavingExpert is urging parents not to miss out on thousands of pounds of tax-free childcare.
As part of the tax-free childcare scheme, you can get up to £500 every three months - up to £2,000 a year - for each of your children.
For disabled children, the maximum amount you could get rises to £4,000.
The scheme essentially works like a savings account where for every £8 you save towards childcare costs, the government tops up an extra £2.
So if you put away £8,000 a year for one child, the government will give you £2,000 totally free.
But MoneySavingExpert estimates fewer than one in five of the 1.3 million families eligible for tax-free childcare aren’t taking advantage of the scheme.
“But to get up to £2,000/yr per child, you need to reconfirm eligibility to claim for any of your chosen childcare.
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