Families urged to act quickly to save up to £4,000

ok.co.uk:

Childcare fees can be one of the biggest outgoings in family life – and they’re on the rise. But, for those that are eligible, tax-free childcare can help.This government-funded initiative offers a top-up for working parents, which can be used towards approved childcare for children aged 11 or under, or up to 16 if the child has a disability.

Now HMRC is urging working parents to take advantage of the scheme ahead of the Easter holidays in order to save money. In December, UK parents received a total of £49.7 million in government funds to help with their childcare bills.

How much can you get? Parents could save up to £2,000 per year for each child, or £4,000 if their child is disabled.The money can be used for before- or after-school clubs, childminders, or holiday activity clubs, reports Devon Live.

For every £8 deposited into a Tax-Free Childcare account, the government adds an extra £2, meaning parents could receive up to £500 (or £1,000 for a disabled child) every three months to help with childcare costs.