Tax free childcare replaced the old voucher system in October 2018. Now if you have children under 12, you apply direct to HMRC rather than through your employer, to receive for free up to 20 % of your childcare costs up to £2,000. To check your entitlement please visit www.tax-service.gov.uk/childcare-calc.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 1st October
If are a non tax payer earning below £12,570 you can earn up to £5,000 tax free of interest. If you are a basic rate tax payer earning over £12,570 up to £50,000 you can earn up to £1,000 of interest tax free.