Childcare support from HMRC
09/11/2023

Parents may be eligible to receive childcare support from HMRC using the Tax-Free Childcare (TFC) scheme. The TFC scheme can help parents of children aged up to 11 years old (17 for those with certain disabilities) to pay for approved childcare.

The TFC scheme assists working families with their childcare costs. There are many registered childcare providers including childminders, nurseries, breakfast and after school clubs and approved play schemes signed up across the UK. Parents can pay into their account regularly and save up their TFC allowance to use during school holidays. 

The TFC scheme provides for a government top-up on parental contributions. For every £8 contributed by parents an additional £2 top up payment will be funded by Government up to a maximum total of £10,000 per child per year. This will give parents an annual saving of up to £2,000 per child (and up to £4,000 for disabled children until the age of 17) in childcare costs. 

The TFC scheme is open to all qualifying parents including the self-employed and those on a minimum wage. The scheme is also available to parents on paid sick leave as well as those on paid and unpaid statutory maternity, paternity and adoption leave. In order to be eligible to use the scheme parents will have to be in work at least 16 hours per week and earn at least the National Minimum Wage or Living Wage. If either parent earns more than £100,000, both parents are unable to use the scheme.


About Us

Bourne & Co Chartered Accountants : Chartered Accountants and Business Advisers

Find out more...

Membership

ICAEW BLK RGB  xero1

Burton

Bourne & Co
6 Lichfield Street
Burton-On-Trent
Staffordshire
DE14 3RD
01283 568912
info@bourneandco.com
www.bourneandco.com

Derby

Bourne & Co
47a Queen Street
Derby
DE1 3DE
01332 340159
info@bourneandco.co.uk
www.bourneandco.com

JUMP TO TOP