For many working parents, childcare costs can play a large role when planning to return to work.
Now that childcare vouchers have closed to new entrants, we are reminding employers that help is at hand with Tax-Free Childcare, a government scheme to help working parents with the cost of childcare.
Eligible parents could get up to £2,000 per child, per year, to spend on qualifying childcare. For parents with two children, that could mean a saving of £4,000 on the family budget.
You don’t need to do anything, but telling your employees about Tax-Free Childcare could:
- help them with their childcare costs
- help their return to work
- help them work more hours, if they want to
- help you retain staff you’ve invested in