Tax-Free Childcare is a new government scheme which will be launched from early 2017 to help working parents with the cost of childcare.
Parents will be able to open an online account, which they can use to pay for childcare from a registered provider.
For every £8 a parent pays in, the government will pay in an extra £2. Parents can receive up to £2,000 per child, per year, towards their childcare costs, or £4,000 for disabled children.
The scheme will be available for children up to the age of 12, or 17 for children with disabilities.
To qualify, parents will have to be in work, and each expecting to earn at least £115 a week. Each parent must not have income over £100,000 per year.
If you are operating a childcare business, you will need to need to register with a regulator (such as Ofsted) and you will need your Unique Tax Reference (UTR) number to sign up for Tax-Free Childcare.
If you would like to discuss call David Nash on 01788 539000.