HMRC urges eligible families to claim £500 cash boost this summer

HMRC have reminded working families that they could miss out on a tax-free cash boost if they don't act now. They have issued an important message to working families over a £500 tax-free cash boost.

Tax-Free Childcare is a government scheme designed to support working parents with their childcare expenses. Through Tax-Free Childcare, eligible families and carers can receive up to £500 every three months per child , or £1,000 every three months if their child is disabled, to put towards the cost of childcare and it is available for children aged up to 11 - or 17 if the child has a disability.

How does it work? The UK Government will pay 20 per cent of childcare costs by topping up the money paid into a Tax-Free Childcare account. This means for every £8 paid into the online account, families will automatically receive an additional £2 top-up. Money can be deposited at any time and used when needed and any unused money can be withdrawn at any time. During the school summer holidays, it is more important than ever that parents and carers are able to access the financial aid they qualify for as it can reduce outgoing costs, help them to stay in work, or allow them to work more hours.

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Queen travels to Balmoral for summer holidayThe Royal Family are invited to spend time with her at the Aberdeenshire castle every summer. Damn, when you realise the Rothschild family controlled the money supporting the British Empire you realise your history teacher was talking a pile of Shiit 😩 Lucky
Source: BBCNews - 🏆 3. / 97 Read more »

Tesla ditches 75% of Bitcoin holdingsTesla jettisons 75% of Bitcoin holdings, boosting cash balance by $936m
Source: TheRegister - 🏆 67. / 61 Read more »

How new build homes in Leeds are saving home owners energy, CO2 and moneyA recent report has revealed that buying a new home could save the average home owner nearly £500 a year in energy bills.
Source: LeedsNews - 🏆 48. / 63 Read more »

Help for Households: Top retailers come together in bid to slash costs for BritsSome of the biggest UK retailers are set to offer fresh deals to help families struggling with soaring prices over the summer holidays.
Source: LBCNews - 🏆 75. / 59 Read more »

Prince William makes exciting Earthshot Prize announcementPrince William has broken his silence during his family summer holiday to make an exciting announcement. Get all the details... so excited 💕❤ EarthshotBoston2022 We knew from the First EarthshotPrize it would be in America and most surmised the KennedyCentre as was obvious ….to us Canellelabelle We’re so excited for EarthshotBoston2022 Can’t wait to see the finalists and winner. Boston, here we come!
Source: hellomag - 🏆 24. / 68 Read more »