Coin Press - More Than 52,000 West Midlands Families Use Tax-Free Childcare

More than 52,000 families in the West Midlands are using Tax-Free Childcare, with HM Revenue and Customs encouraging other eligible households to register.

FAMILIES across the West Midlands are being called on to sign up and save on childcare costs ahead of the October half term.

Tax-Free Childcare HM Revenue and Customs (HMRC) helps working families with their childcare costs by saving up to £2,000 per year for each of their children up to the age of 11 or £4,000 per year up to aged 16 if the child is disabled.

Latest figures show 52,180 families in the West Midlands received a share of £55.7million in government top-ups in June with each family getting an average of £93 also stated to their Tax-Free Childcare savings pot.

For every £8 parents deposit in their child’s account, the government tops it up by £2.

Myrtle Lloyd, HMRC’s chief customer officer, stated: “Paying for childcare while you work doesn’t have to be a nightmare for your bank balance this Hallowe’en. Tax-Free Childcare can make a real difference. Go to GOV.UK to find out more today.”

Signing up to Tax-Free Childcare today means families can save on whatever Hallowe’en half term childcare plans they need as well as those for the year ahead.

Parents can receive up to £500 (or £1,000 if their child is disabled) every three months towards their childcare costs.

Savings can be used to pay for whatever approved childcare suits your family’s needs – nursery for younger children, before and after school clubs or activity clubs during the school holidays.

Once families have opened a Tax-Free Childcare account, they can deposit money and use it straight away or keep it in the account to use it whenever it’s needed. Any unused money can be withdrawn from the account at any time.

Families could be eligible for Tax-Free Childcare if they:

have a child or children aged 11 or under. They stop being eligible on September 1 after their 11th birthday. If their child has a disability, they receive up to £4,000 a year until September 1 after their 16th birthday

the parent and their partner (if they have one) earn, or expect to earn, at least the National Minimum Wage or Living Wage for 16 hours a week, on average

each earn no over £100,000 per annum

do not receive Universal Credit or childcare vouchers

For more or to sign up click here .

P.Schmidt--CPN