HMRC will pay out between £500 and £1,000 every three months
A lesser-known code issued by HM Revenue and Customs could give you an annual sum of between £2,000 and £4,000, but you must apply this week. The Tax-Free Childcare scheme, administered by HMRC, offers parents payments ranging from £500 to £1,000 every three months, up to a yearly maximum of £2,000 or £4,000.
HMRC will then send you a code which you give to your childcare provider, such as a nursery, who can then claim the money. Most nurseries incorporate the money into their charges, so for example, a nursery costing £100 a day would be reduced to £80 a day using the money, up to a maximum of £2,000 off your bills for the year.
Even if you aren't working, you may still be eligible if you claim a benefit like Incapacity Benefit, Severe Disablement Allowance, Carer's Allowance or Employment and Support Allowance, reports the Express.
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