Childcare can be a headache for working people and every little bit of help with costs is appreciated by working parents.
HMRC currently offer a childcare vouchers scheme which will continue, but here is also a new scheme, Tax Free Childcare, which will be introduced in the autumn of 2015.
The key features of the scheme is eligible parents will receive a government top up of 20p for every 80p towards their childcare cost up to a limit of £2000 per annum per child.
The intention is to try to make the scheme simple with just one scheme provider National Savings and Investments and to make it available to a much wider range of working parents with income of up to £150,000 per annum which is expected to make it available to up to 1.9m working families.
A last minute reminder for 13/14 personal tax year. The personal tax year ends on the 5 April 14, if you have not already done so, then you should consider making use of your ISA allowance before it is too late.
You should of course also review any previous ISA investments regularly to ensure you are getting the best returns for your investment. It is generally possible to transfer your ISA’s to a new cash or investment ISA.