Tax-Free Childcare – are you eligible?

It is frustrating to see headlines reporting that only one fifth of eligible families are taking advantage of the new Tax-Free Childcare system which provides help with the costs of childcare. There appear to be several reasons for this, including confusion about the options, a lack of publicity and parents wanting to stick with the old Childcare Voucher system. Childcare … Read More

Changes to tax-free childcare

There are changes to tax-free childcare later this year which will affect millions of working parents. Time is running out for parents wanting to join Childcare Voucher schemes (CV) as after 4.10.18, such schemes will be closed to new parents. The government has been phasing in the new tax-free childcare scheme as a replacement for vouchers. However, parents can only … Read More

Budget 2017 – employed and self employed taxes

Self Employed Making Tax Digital employed and self employed taxes – Following concerns from tax professionals and taxpayers alike on the tight implementation timeframe, the government will delay the introduction of quarterly reporting for unincorporated businesses and landlords with turnover below the VAT threshold until April 2019. In addition, the cash basis entry threshold will be increased to £150,000 and … Read More

Changes to tax-free childcare – an update

Changes to tax-free childcare were announced in the Autumn Statement 2013, with further proposals announced in this year’s March Budget. It is proposed that the current system of tax-free childcare vouchers is phased out to make way for a new tax-free childcare scheme, open to children under the age of twelve and effective from Autumn 2015. The government plans to … Read More

Employer supported childcare – tax relief

Currently, employees are able to join schemes at work allowing them to receive tax-free childcare vouchers for childcare up to the age of 5, or for spending in after-school/holiday clubs. The tax relief is restricted depending on when an individual joined the scheme and the rate of income tax being paid. This is all due to change following announcements in the … Read More