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It is estimated that 9 out of 10 families are eligible for some financial assistance through the Child Tax
Credit and Working Tax Credit or Childcare vouchers to help pay for the cost of child care. The amount they receive will depend
on their circumstances.
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Child Tax credit regardless of whether you work or not. Families with incomes of up to
£58,000 (or £66,000 if there is at least one child under a year old) could still be eligible for help. If you have a baby
under one year old or your child has a disability, you can receive extra help. Child Tax Credit is paid directly into the
bank account of the main carer. More info >
Working Tax credit provides a top-up to wages for those on low incomes. Extra support
is available for working parents and disabled people in work. The main part of Working Tax Credit will be paid through pay
packets, or directly to those who are self-employed. From November 2005, this will be phased out and payment will be made
directly from HM Revenue & Customs. The Childcare Element of Working Tax Credit is aimed specifically at helping working
parents with the cost of registered and approved childcare. This can pay up to 70% of childcare costs up to a limit of £175
per week for one child and up to £300 per week for two or more children (meaning the most you can receive for the childcare
element is £122.50 for one child or £210 for two or more children).
From April 2006 the proportion of childcare costs covered will increase from 70% to 80%. More info >
Childcare vouchers is a scheme employers some employers offer to help working parents
save on registered childcare costs. The first £50 per week of childcare vouchers that an employee receives through their payroll
are exempt from income tax and National Insurance Contributions (NICs). Employers also save up to 12.8% on employer’s
National Insurance Contributions, up to the value of £50 per week.
Childcare vouchers are not means tested and are available to all working parents whose companies operate childcare voucher
schemes. The vouchers can be used to pay for all types of registered childcare including registered childminders, day nurseries,
crèches, playgroups, out of school hours clubs, holiday play schemes and home childcarers approved under the new Home Childcarer
Approval Scheme. More info >
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This Internet site provides information of a general nature and is designed for information purposes
only. If you have any concerns about your own health or the health of your child, you should always consult with a physician
or other healthcare professional. Please review the terms and conditions before using this site. Your use of the
site indicates your agreement to be bound by the terms and conditions
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