Martin Lewis is urging 800,000 families to claim an additional £2,000 saving on tax. On his ITV programme, The Martin Lewis Money Show, Martin explained that many households were not claiming the perk.
The Money Saving Expert says that many UK households are not claiming the benefit, which allows them to get £500 tax free every three months (up to £2,000 per year) for each of their children. For families that have a child who is disabled, this increases to £1,000 every three months reports Birmingham Live.
He said: "There are 800,000 people in the UK eligible for tax-free childcare, which is effectively where you get 20% 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 secure the discount you will need to set up an online account for your child on the Government website. Then for every £8 you pay into this account, the government will then pay in £2 to pay your provider.
This benefit can be used at the same time as your 30 free hours of free childcare, if you're eligible for both.
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