Tax-free Childcare accounts

I am self-employed, can I apply for Tax-Free Childcare Account? 

1st November 2017

Tax-free childcare account replaces the employer-provided voucher scheme and is available to employed and self-employed parents.  

The scheme has been introduced by the Government to help top-up childcare payments where parents pay in £8, the Government will pay £2- up to a maximum of £2,000 a year. This will allow parents to put up to £8,000 a year into their tax free childcare account.  

This account may be used only for childcare costs for your child/children up to 11 years of age and your childcare provider must be signed up to the scheme.  

The eligibility is complex, however, it is usually available to working parents earning over £120 a week. Provided your child was born on or after 1st April 2013, there is an easy way to check by making an online application

By Jo Nockels

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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