Government publishes consultation on Tax-Free Childcare delivery model
23 May 2014 03:07 PM
Government publishes a
consultation on the provision of childcare accounts in Tax-Free
Childcare.
Today (Friday 23 May) the
government publishes a further consultation on the delivery of childcare accounts within the
Tax-Free Childcare scheme. Following this, interested parties will have had the
opportunity to comment on all of the options for delivering accounts through
the public sector, either through NS&I or within HMRC, in addition to the
options for delivery in the private sector.
The consultation will be open
until 27 June and the government will consider the responses alongside those to
the first consultation. The consultation will not affect the delivery
timetable.
The Tax-Free Childcare scheme
was announced at Budget 2013, and will be available to up to 1.9 million
working families, providing 20% support for childcare costs up to £10,000
per year for each child. It is set to launch in autumn 2015 and roll out to all
families with children under the age of 12 within the first
year.
Parents will qualify for the
scheme if all parents in a household are in work, earn less than £150,000
a year, and are not already receiving support through tax credits or Universal
Credit.