" " " "

Tax-Free Childcare Vouchers – Claim up to £2000 per year towards your childcare costs at Banana Moon Billericay

Tax-Free Childcare Vouchers – Claim up to £2000 per year towards your childcare costs at Banana Moon Billericay

Find out how to save money on your childcare costs

 
What is Tax-Free Childcare (TFC)? 
If you’re a working parent or carer, you can get up to £500 every three months (up to 
£2,000 a year per child) to help with the costs of childcare. For every £8.00 contributed to your Childcare Account, the government will contribute £2.00. Payment towards childcare costs will then be paid directly from your childcare account to your childcare provider – Banana Moon Billericay. 
 
How much could I save? 
For example, if your childcare costs are £750 per month, you would pay £600 into your childcare account and the government would pay in £150. This would be an annual saving of £1800 per child. 
 
If you are eligible for Tax-Free Childcare, you can use it at the same time as: 

Ø  15 hours funding 
Ø  30 hours funding 
 
When you pay into the account, the top up will be applied automatically. 
 
Am I eligible? 
To get Tax-Free Childcare, you need to be working at least 16 hours a week, earning at least the National Minimum Wage or National Living Wage (£152 per week). This includes being:
 
• self-employed 
• on maternity or parental leave 
• on sick leave or annual leave 
 
Your child is eligible until the September after their 11th birthday, or until their 17th birthday if they have a disability. Each parent or carer can earn up to £100,000 per year and still be eligible for Tax-Free Childcare. Your eligibility doesn’t depend on how much tax you pay, so it won’t affect your 
income tax liability or any other tax, like VAT. 
 
You can’t claim Tax-Free Childcare at the same time as: 
Ø  Working Tax Credit 
Ø  Child Tax Credit 
Ø  Universal Credit. 
 
Common Myths: 
·       It’s something to do with paying tax – NO 
·       There are “strings attached” – NO 
·       It must be paid back – NO 
·       There are hidden conditions – NO 
·       I must provide bank statements – NO 
·       It will take a long time to sign up – NO 
·       It will be complicated – NO 
 
How do I sign up? 
·       It takes about 20 minutes to sign up.  https://www.childcarechoices.gov.uk/ 
 
·       You will need your national insurance number (and your partners, if applicable). If you are self-employed, you will also need your Unique Taxpayer Reference (UTR). 
 
·       You will need reconfirm your eligibility every 3 months, but you will receive an email reminder. 
 
Where can I find out more information? 
The main website for Tax-Free childcare is https://www.childcarechoices.gov.uk/ 
 
There is also an online childcare calculator to find out more and choose what works best for you at https://www.gov.uk/childcare-calculator 
 
You can find a step-by-step guide to Tax-Free Childcare here https://www.gov.uk/get-tax-free-childcare 
 
So, sign up today and start saving money!! 
 
If you need any further information, email us at info@bananamoon-billericay.co.uk or existing parents can find out more if they speak to Alex, Emma or Tash. 
 

@BananaMoon - 6 months ago

@BananaMoon - 1 year ago

#News

Back to news

Get in touch today

We are confident you will appreciate our nursery, its setting and facilities. Should you wish to visit, we are available at any time to meet with you. Any comments or input from parents are always welcome.

Opening Times

We are open 7:30am - 6:30pm

Billericay

Banana Moon Day Nursery, The Stables, London Road
Billericay, Essex
CM12 9HS
info@bananamoon-billericay.co.uk

Unable to load video...