Help With Childcare Costs
Evidence shows that good childcare can support your child’s development and prepare them for school. It also means they’ll be well cared for while you’re at work. That’s why the government is spending £5 billion on childcare support. This will give parents more choice, security and peace of mind when balancing work and family life. You could get help to pay for childcare if you’re in work or thinking of returning to work or training. The government is introducing new ways to help parents with childcare costs. Whether you have toddlers or teens, you could get support.
Follow these links for information about help with childcare costs:-
https://www.childcarechoices.gov.uk
The Money Saving Expert website is amazing and full of fabulous unbiased information and really is well worth a read.
http://www.moneysavingexpert.com/family/childcare-costs
The Child Poverty Action Group is another good website for advice on the various benefits available which can help with childcare costs.
http://www.cpag.org.uk/content/tax-free-childcare-universal-credit-and-tax-credits
Tax credits: working out your childcare costs
You can claim extra tax credits to help with your childcare costs if you’re eligible. Use the tool in the link below to work out what childcare costs you should claim. You can make your claim 7 days before you start paying for childcare.
If you already claim tax credits for childcare costs and your costs have changed, you can use this tool to work out if you need to report the change to the Tax Credit Office.
When calculating your childcare costs, you can only include costs you pay yourself. You may not receive the correct credits if you provide the wrong amount.
You cannot include the following in your childcare calculation:
Childcare vouchers: better off calculator
Childcare vouchers from your employer may affect the amount of tax credits you get. This calculator can help you decide if you would be better off taking childcare vouchers or not. It’s just a guide and your actual tax credits entitlement is worked out when you make a claim or report a change in circumstances.
https://www.gov.uk/childcare-vouchers-better-off-calculator
Reviewed and Updated January 2020
Evidence shows that good childcare can support your child’s development and prepare them for school. It also means they’ll be well cared for while you’re at work. That’s why the government is spending £5 billion on childcare support. This will give parents more choice, security and peace of mind when balancing work and family life. You could get help to pay for childcare if you’re in work or thinking of returning to work or training. The government is introducing new ways to help parents with childcare costs. Whether you have toddlers or teens, you could get support.
Follow these links for information about help with childcare costs:-
https://www.childcarechoices.gov.uk
The Money Saving Expert website is amazing and full of fabulous unbiased information and really is well worth a read.
http://www.moneysavingexpert.com/family/childcare-costs
The Child Poverty Action Group is another good website for advice on the various benefits available which can help with childcare costs.
http://www.cpag.org.uk/content/tax-free-childcare-universal-credit-and-tax-credits
Tax credits: working out your childcare costs
You can claim extra tax credits to help with your childcare costs if you’re eligible. Use the tool in the link below to work out what childcare costs you should claim. You can make your claim 7 days before you start paying for childcare.
If you already claim tax credits for childcare costs and your costs have changed, you can use this tool to work out if you need to report the change to the Tax Credit Office.
When calculating your childcare costs, you can only include costs you pay yourself. You may not receive the correct credits if you provide the wrong amount.
You cannot include the following in your childcare calculation:
- childcare payments from your employer - either in money or childcare vouchers
- childcare vouchers in return for a reduction in your pay - this is called a ‘salary sacrifice’
- childcare payments or grants from a government scheme, eg to help you start work or because you are a student
- childcare costs paid for by an educational or local authority, eg free early learning or nursery education
Childcare vouchers: better off calculator
Childcare vouchers from your employer may affect the amount of tax credits you get. This calculator can help you decide if you would be better off taking childcare vouchers or not. It’s just a guide and your actual tax credits entitlement is worked out when you make a claim or report a change in circumstances.
https://www.gov.uk/childcare-vouchers-better-off-calculator
Reviewed and Updated January 2020