Financial guru Martin Lewis has urged families to claim their free £2000 tax saving, worrying that thousands of eligible households aren't in receipt.
The state benefit itself allows families with children to receive up to £500 free of tax every three months - amounting to £2,000 per year - for each child.
Furthermore, those with disabled children can access tax savings of up to £1,000 every three months.
Read more: Martin Lewis reveals 'easy, painless ways' to cut down on energy use that can save money on bills
Birmingham Live reports that speaking live on his ITV Money Show earlier this week (November 8), Martin predicted that countless households up and down the country aren't claiming the perk. He said: "There are 800,000 people in the UK eligible for tax-free childcare, which is effectively where you get 20 per cent off the price of childcare through Gov.uk, the savings scheme there."
"People aren’t using it so check that out if you’re paying for childcare."
To claim their discount, residents must to set up an online account for their child/children on the Government's official website. Then for every £8 you pay into this account, the government will pay in £2 to pay your provider, reports the Mirror.
You can use this benefit at the same time as your 30 hours of free childcare if you’re eligible for both.
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