Nov 15, 2023
How to Pay for Nursery with Tax Free Childcare
Understandably, the cost of day nursery can put many mums and dads off choosing it as an option. But there are a range of Government schemes open to parents that can make nursery affordable and we will do everything we can to help you understand the choices and access the funding that you might be eligible for.
What is tax-free childcare?
Tax-Free Childcare is a government initiative designed to help working families with the cost of childcare. It’s affordable and accessible to those who need it most.
It’s designed to be a simple and convenient way to save on costs when registering your child at nursery and is accepted across all of our settings at The Old Station Nursery.
So how does it work?
For every 80p you pay into your Tax-Free Childcare account, the government will add an extra 20p, up to a maximum of £2,000 per child per year, or £4,000 for children with additional needs.
This means that for every £8 you pay in, you’ll get £2 back from the government.
What are the benefits?
It helps families save money on childcare costs, by adding government funds to the amount they pay in. This is done automatically, and you are able to use the money when it shows as ‘available’.
It’s also easy to use and doesn’t require complicated forms or extra benefits to be claimed.
To be eligible, you must be employed, self-employed or on a zero-hours contract and earn at least £120 per week, or £6,240 per year.
You also need to have a child under the age of 12, or under the age of 17 if they require additional support.
For more information, feel free to speak to our qualified and passionate nursery team by using the contact details on our nursery webpages, or to head straight to the application, visit the ‘Apply for tax-free childcare’ page on www.gov.uk
Related pages/links:
Related blogs:
Funded childcare: Everything you need to know
Related videos:
How to apply for Tax-Free Childcare
How to apply for 15 hours funding for your 2 year old
How to apply for 15 and 30 hours funding for your 3 – 4 year old
