Childcare Tax Breaks Worth Thousands Proposed

Childcare Tax Breaks Worth Thousands Proposed

January 7th 2013 2:38 pm

general

With all the drama surrounding the way in which the coalition Government has brought in, as well as handled, the changes to C ...

498 views

With all the drama surrounding the way in which the coalition Government has brought in, as well as handled, the changes to Child Benefit, new proposals are being announced today as part of a mid-term review. Of the changes is a a new scheme to replace the current Childcare Voucher and Allowances schemes.

Flat Rate Tax Allowance For Childcare

The new allowance is still being worked out (finalised next week)  but indications are that working women will become entitled to claim an additional tax allowance of up to £2,000 per child every year to cover the cost of childcare. The Government commissioned a report last Summer to investigate the costs on families of childcare and the stress on childcare providers to take on current demand. This revealed the current workforce could be increased by one million women currently deterred by monetary factors. It also showed that rules on how many children a nursery can be in charge of may need to be relaxed to allow economies of scale, bringing down costs. A Barnardo's charity report claims providing an allowance to people in these circumstances will do much to remove situations where parents work to meet childcare costs and have almost nothing left over.

be smart. find an accountant online now. it's easy!

what type of accounting work do you need help with? choose below.

Disclaimer

We are a lead generation facility for accountants located across the UK. We provide our visitors with the ability to search for accountants directly or provide details of the work they require and seek out accountants looking for clients with similar circumstances. Users of this website are assured that their personal details are not distributed to more than one accountant and that accountant is then allowed to contact the user to discuss the service the accountant can provide. All data transmission on this website and administration facility is carried out under full 256-bit SSL encryption.

Data Protection Registration Number ZA200013

Please read our full disclaimer.