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Basics of the rules set to be introduced next year
KEY POINTS
- Tax-free childcare will be introduced in autumn 2015.
- Partnership with National Savings and Investments.
- Parents must be in paid work.
- Employers can contribute to the employee’s online account.
Parents welcome tax-free childcare and want it to be rolled out as quickly as possible according to the response document to the August 2013 consultation on the new arrangement.
Respondents said the scheme announced in the 2013 budget must be simple to operate and responsive to changing childcare needs.
The government promised continued engagement with “all interested parties” to ensure that it gets the design right.
Furthermore a House of Commons motion provided that any new clauses added to the current Finance Bill in relation to tax relief in connection with the costs of childcare would...
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