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In 2013 the government announced a new tax break for working parents to help them pay for childcare. It will, at last, be available soon. But what is it worth and how can you take advantage of it?
Childcare tax break. It's so long since the government announced the introduction of "Tax-Free Childcare" that you've probably forgotten about it. In the meantime it's faced a number of technical troubles resulting in amendments to the original proposal and a legal challenge to the whole scheme. However, it's on the verge of becoming reality, below is what you need to be aware of:
When can you sign up?
There's good news and bad. While some parents will be able to start a Tax-Free Childcare account some time in spring 2017 (an exact date hasn't been fixed), the scheme is being rolled out gradually. It's being made available to those with the youngest children first. It might be much later in the year before it's available to all working parents.
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