Call 01962 735544 - Email infobutler@butler-co.co.uk

Over 280,000 families now using Tax-Free Childcare

More than 282,000 working families used a Tax-Free Childcare (TFC) account during March 2021, according to figures from HMRC.

More than 282,000 working families used a Tax-Free Childcare (TFC) account during March 2021, according to figures from HMRC.

HMRC stated that it is the highest recorded number of families in any one month since the scheme was launched in April 2017. These families received a share of more than £33 million in government top-up payments for their childcare.

The TFC scheme can be used to help pay for accredited holiday clubs, childminders or sports activities – enabling parents and carers to save money on the costs of childcare.

The TFC initiative is available for children aged up to 11, or 17 if the child has a disability. For every £8 deposited into an account, families will receive an additional £2 in government top-up, capped at £500 every three months, or £1,000 if the child is disabled.

Myrtle Lloyd, Director General for Customer Services at HMRC, said:

'We want to help kids stay active this summer, whether they are going to summer holiday clubs or a childminder. A childcare top-up will go a long way towards helping parents plan and pay for summer activities to keep their kids happy and healthy.'

More details and registration for TFC can be found at www.gov.uk/tax-free-childcare

Internet link: GOV.UK TFC statistics

Copyright

© 2022 Butler & Co. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

powered by totalSOLUTION

Contact Us

Please call:
01962 735544

Quick links

Home | Site map | Accessibility | Disclaimer | Help | Index

Address
Butler & Co, Bennett House, The Dean, Alresford, Hampshire SO24 9BH

Butler & Co which is a Limited Company, is regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.
Licensed by the Institute of Chartered Accountants in England & Wales to carry out the reserved legal activity of non-contentious probate in England and Wales.
Registered VAT Number GB566 4006 44
Butler & Co is the trading name of Butler & Co Alresford Limited registered in England No. 10726923.