Cornwall news HMRC encourages working families to sign up for cash boost UK news
PremierLeague-News.Com - Cornwall - The scheme has been launched to help families struggling with the impacts of the cost of living afford childcare
PremierLeague-News.Com - Breaking Sport Transfer News ! Working families in the UK are being encouraged by HMRC to apply for a £500 tax-free boost hoped to lessen the impact of the rising cost of living this summer. Parents who work and have young or school-aged children could be missing out on as much as £1,000 every three months to assist with the cost of childcare. With around a month of the school term left and increasing energy and fuel prices worsening the cost of living crisis, this convenient cash boost could help working parents pay for holiday clubs and summer activities clubs so they can get on with their jobs over the summer. This weekend, scores of protesters turned out at rallies to demand action from the government against the cost of living crisis. The TUC claims that its research has shown workers have lost nearly £20,000 since 2008 as a result of pay not keeping pace with inflation. Tax-Free Childcare gives eligible households as much as £500 every three months, or £1,000 if their child has a disability, to put towards childcare schemes. Read more:Truro railway passengers have their say on national train strikes Recipients are given an additional £2 if they have a child aged 11 or under, or 17 if they are disabled, for every £8 that is put into a Tax-Free Childcare online account. Parents and guardians are being encouraged to see if they are eligible for Tax-Free Childcare by checking the UK Government website. HM Treasury’s Exchequer Secretary to the Treasury Helen Whately commented: “It’s fantastic that more parents are taking up Tax-Free Childcare. This support provides a helping hand with childcare costs for working families. With over one million families eligible, I want to encourage parents to take advantage of Tax-Free Childcare and keep the extra pounds in their pocket.
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. Children sitting together with parents and laughing
How does the scheme work? The scheme allows claimants to get 20 per cent extra on money deposited into accounts, which can then be used to fund childcare. Accounts can be set up at any time, and are available to use immediately. If, for example, you are a parent of school-age children who attend holiday clubs during the summer holidays, you could deposit money into the account throughout the year in order to spread the cost out and you would get an extra 20 per cent free. Any money which you do not end up using can be withdrawn from the account at any time.
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Pre-school children It's not just school-age children that can benefit from the scheme through childcare and summer clubs. Parents can also make use of the scheme if they have children at nurseries, childminders or other childcare providers. As childcare costs for young children can prove to be pricey, the scheme may significantly help a lot of families financially. If, on the other hand, you are a childcare provider, you can sign up for a childcare provider account via GOV.UK to receive payments from parents and carers via the scheme. Let us know if you will be taking advantage of this scheme by logging in and dropping a comment down below. Read more: Affordable homes, a pub conversion and a church organ being relocated to Italy in latest planning applications New way for Cornish patients to give feedback on their healthcare Cornwall man faces jail over involvement in Kill the Bill Bristol protest One in five children in Cornwall now eligible for free school meals and number keeps rising
Source = PremierLeague-News.Com - Cornwall