10,405 families in Northern Ireland saved on childcare costs with tax-free childcare

The latest figures revealed by HMRC show an increase of 2,420 families in Northern Ireland using the scheme compared to December 2021.

Tax-Free Childcare is a financial support for working families with children up to the age of 11, or 16 if their child has a disability. The government top up can be used to pay for any approved childcare including holiday clubs, breakfast and after school clubs, child minders and nurseries.

A total of £41.5 million in government top-up payments were made to working families across the UK in December 2022 with each family saving up to £2,000 a year per child or £4,000 if their child is disabled.

Families who have not yet signed up should check their eligibility and apply online today.

Opening a tax-free childcare account is quick and easy and can be done at any time of the year.

Myrtle Lloyd, HMRC’s director general for customer services, said: “We want to help families get the most out of their finances and tax-free childcare can help pay towards their childcare costs. Search ‘tax-free childcare’ on GOV.UK to get started.”

For every £8 paid into the tax-free childcare account, families automatically receive an additional £2. Families can save up to £500 every three months (£2,000 a year) for each child or £1,000 (£4,000 a year) if their child is disabled.