Families all across the country have been issued a reminder by HM Revenue & Customs (HMRC) that they could save a lot of money with tax-free childcare.
According to the government agency, more than 405,000 families managed to save money on childcare costs in December with tax-free childcare costs and is urging those not yet signed up to do so as soon as possible. The latest government figures reveal that £41.5 million in top-up payments were made to working families by the government in December 2022.
HMRC said the same figures show that each family roughly saved up to £2,000 a year per child or £4,000 if their child is disabled. Families can apply for the financial support until their child reaches the age of 11 (or 16, if the child has a disability).
