Tax-free childcare login: How do I sign in and how much can I claim?
PARENTS can save on childcare costs by applying for tax-free childcare.
The scheme could entitle you to up to £2,000 a year for each of your children when you set up an account. We explain how to claim.
What is the tax-free childcare scheme?
All working parents with children who are 11 or under can apply for the Government's tax-free childcare scheme.
The initiative could save parents £2,000 a year on childcare costs.
This goes up to maximum of £4,000 if your child is disabled.
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.
The scheme launched in 2017, but one in five families could still be missing out on the cash because they haven't applied.
HMRC figures from last year showed that around 90% of people who are eligible for the benefit haven't used it.
What help is available for parents for childcare costs?
CHILDCARE can be a costly business but here is how you can get help:
- 30 hours free childcare - Parents of three and four-year-olds can apply for 30 hours free childcare a week. To qualify you must work at least 16 hours a week at the national living or minimum wage and earn less than £100,000 a year.
- Tax credits - For children under 20, some families can get help with childcare costs.
- Tax-free childcare - Available to working families and the self-employed, for every £8 you put in the government will add an extra £2.
Meanwhile, Martin Lewis' has previously urged Brits to put in a claim, and estimated that 1.3million families are missing out.
Before you apply, you need to have some important details handy first - this includes your National Insurance number and your Unique Taxpayer Reference if you're self-employed.
According to the Gov.uk website, it takes 20 minutes to apply.
To do so, you'll need the Government Gateway user ID and password you used when you applied for tax-free childcare.
Brits may have lost out on thousands of pounds since the new tax year began in April.
A number of big changes for drivers came into force around the same time too.
Meanwhile, Universal Credit claimants and those on other benefits may have seen their payments increase.