Once the new TFC (Tax Free Childcare) scheme is in place the existing Childcare Voucher scheme will be closed to new entrants. Anyone already on the scheme will be able to continue to benefit. Some stand to gain from the new scheme, but some parents will not be eligible or could lose out.
The TFC scheme will benefit families:
- Where both parents work, and have total childcare costs over £9,500 a year
- Working single parents with childcare costs over £5,000 a year
- Self-employed parents if they fulfil eligibility requirements
For more detailed information click on the link below.