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Family finance

19 February 2018

There are a variety of ways you can get help with the cost of childcare. The information below will give you a brief overview but we suggest you visit Childcare Choices to find out more about the different support you may be able to access.

Child Tax Credit

Child Tax Credit is an income-related allowance for parents and carers of children or young people who are still in full-time education. 
 

Working Tax Credit

If you are working more than 16 hours a week and you are on a low income, you may be able to get Working Tax Credit too. For more information call the Tax Credit Helpline on 0845 300 3900 or textphone 0845 300 3909. 
 

Employer supported childcare

Some employers provide support with finding and paying for childcare. Talk to your employer about what they offer. See information from HM Revenue and Customs on getting help from your employer. For more detailed information on the help you might be entitled to, visit GOV.UK.
 

Help for parents in higher education

If you are a full-time student with children you may qualify for extra financial help on top of your standard student finance package. For more information, visit GOV.UK.
 

Tax free childcare

Tax free childcare is available to around two million households to help with the cost of childcare, enabling more parents to go out to work if they want to and providing greater security for families. 

It's now open to all remaining families: parents whose youngest child is under 12.

It’s quick to apply and you could save thousands of pounds each year. For every £8 parents pay into their childcare account, the government will add an extra £2, up to £2,000 per child per year. 

The money can go towards a range of childcare including:

  • nurseries
  • childminders
  • after school clubs
  • holiday clubs

Parents can apply for tax free childcare online and access the government's childcare calculator, which helps you to choose the best government support for you, by visiting Childcare Choices (this includes if you are self-employed). 

HM Revenue and Customs has been gradually rolling out tax free childcare since April 2017. You can find ou10 things parents should know about tax free childcare.