MARTIN Lewis' MoneySavingExpert is urging parents not to miss out on thousands of pounds of tax-free childcare. As part of the tax-free childcare scheme, you can get up to £500 every three months – up to £2,000 a year – for each of your children. For disabled children, the maximum amount you could get rises to £4,000. The scheme essentially works like a savings account where for every £8 you save towards childcare costs, the government tops up an extra £2. So if you put away £8,000 a year for one child, the government will give you £2,000 totally free. But MoneySavingExpert estimates fewer than one in five of the 1.3 million families eligible for tax-free childcare aren't taking advantage of the scheme. What help is available for parents for childcard costs? CHILDCARE can be a costly business but here is how you can get help: 30 hours free childcare – Parents of three and four-year-olds can apply for 30 hours free childcare a week. To qualify you must work at least 16 hours a week at the national living or minimum wage and earn less than £100,000 a year. Tax credits – For children under 20, some families can… Read full this story
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