With the new school term starting, HM Revenue and Customs (HMRC) is reminding families to open a Tax-Free Childcare account today to save up to \u00a32,000 per child on their yearly childcare bills.<\/p>\n\n\n\n
Families can use their Tax-Free Childcare account to pay for any approved childcare including holiday clubs, breakfast and after school clubs, child minders and nurseries.<\/p>\n\n\n\n
The scheme provides working families, with children up to the age of 11, or 16 if their child has a disability, up to \u00a32,000 a year per child or \u00a34,000 a year if their child is disabled.\u00a0For every \u00a38 paid into a Tax-Free Childcare account, families automatically receive the government top up of \u00a32. Families can save up to \u00a3500 every 3 months for each child or \u00a31,000 if their child is disabled.\u00a0<\/p>\n\n\n\n
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Opening a Tax-Free Childcare account online is straightforward and can be done in about 20 minutes. Money can be deposited at any time, 365 days a year, to be used straight away or left in the account and used whenever it is needed. Unused money in the account can be withdrawn at any time.<\/p>\n\n\n\n