Make school holidays easier with tax-free childcare

on .

RWBsummerholdays_taxplanning

Did you know there is a government scheme available that can help contribute towards childcare costs which may mean fewer of your employees will need time off at the same time this summer?

Read on to find out how you can help support your staff and maximise your business over the holidays..

The scheme

Tax-Free Childcare is a scheme available to working parents with children from 0-11 years and many parents are not taking advantage of the scheme.

HMRC would thus welcome help from employers in changing that, so please tell your employees about Tax-Free Childcare and how it can reduce their childcare costs.

Eligible parents can get up to £2,000 per child, per year to spend on qualifying childcare (effectively a 25% top up). Note that Tax-Free Childcare isn’t just for everyday childcare costs, such as childminders and nurseries, parents can also use it to pay towards the cost of:

  • after school clubs
  • summer camps
  • school holiday activities

We can help you with your tax planning...

Our team of tax experts can help you maximise your tax efficiency. Contact us today on 0115 964 8888 or email enquiries@rwbca.co.uk.

The views provided in this article are for general information purposes only. Nothing in this article represents advice of any nature whatsoever. Accordingly, RWB CA Limited does not accept any liability or responsibility for the information contained in this article or any decision or other action that may be taken in reliance upon the information contained within it. RWB CA Limited accepts no responsibility for any errors of fact or opinion and assumes no obligation to provide you with any changes to its assumptions.  

Tags: Financial planning Taxation Tax advice Tax planning Benefits Tax HMRC Employee

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