What financial help is there to pay for childcare costs?
Financial help towards your childcare costs will depend on your circumstances; whether you are working, about to start work or studying, as well as your income level, childcare costs and the number of children you have. There are two main types of financial help towards the costs of childcare available for working parents; the childcare element of Working Tax Credit and employer supported childcare. The childcare element of Working Tax Credit is intended for parents on a low income and can pay up to 80 per cent of your registered childcare costs if you (and your partner if you are part of a couple) work more than 16 hours per week. The amount you are awarded is dependent on your income, your childcare costs and the number of children you have. Employer supported childcare, often referred to as childcare vouchers, is a way for you to make savings on the childcare you pay for by saving on your tax and National Insurance contributions through your employer’s payroll. Your employer needs t
