What is Tax-Free Childcare?
Parents could soon find themselves over £900 a year worse off because of changes to how the government helps them pay for childcare. At the moment, a parent can join their employer’s childcare voucher scheme, saving them up to £933 a year on childcare costs. But all this is going to change.
There’s a new government-run scheme being launched called Tax-Free Childcare, or TFC for short.
TFC will be rolled out in such a way that allows the youngest children to enter the scheme first, and all eligible parents will have access to the scheme by the end of 2017. The existing childcare voucher scheme (which is offered through employers) will remain open to new entrants until April 2018.
We’re here to help you understand the differences between TFC and childcare vouchers. If you’re a parent we want to help you make the right choice for your family; and if you’re an employer or carer we want to help you to give the right advice.
You should also check out the Government Childcare Choices website and Check what help you could get with childcare costs calculator for a more personal illustration.
Does your employer offer childcare vouchers from Computershare? Sign up today and give yourself a choice.Sign up