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Children

Child Benefit Increases From 7 April: What Employers Need To Know

From 7 April 2025, families receiving Child Benefit will see an increase in their payments. HM Revenue and Customs (HMRC) has announced that the weekly rate will rise to £26.05 for the eldest or only child and £17.25 for each additional child. This means an annual payment of £1,354.60 for the first child and £897 […]

Read more April 3rd, 2025

Back To School – Have You Set Up A Tax-Free Childcare Account?

The Government’s Tax-Free Childcare Accounts provide a 25% subsidy towards the cost of childcare. The account can be used to pay nursery fees, breakfast clubs, after-school clubs and registered childminders. The scheme operates by topping up savings of up to £8,000 per child by 25%, potentially an extra £2,000 a year from the Government to […]

Read more September 11th, 2024

HMRC Checking On Workplace Nurseries

With the ever-increasing costs of childcare, a very attractive benefit provided by more and more employers is a creche or nursery for employees’ children. If correctly structured, this is a tax-free benefit and will help employers attract and retain staff. Larger employers may provide an on-site nursery but for smaller employers, it is more common […]

Read more September 9th, 2024

Many Couples May Need To Restart Child Benefit Claims

The changes to the High Income Child Benefit Charge (HICBC) announced in the Spring Budget have now been incorporated into the latest Finance Bill and are scheduled to take effect from 6 April 2024. The increase in the threshold for the tax charge was good news, although many were lobbying for the charge to be […]

Read more April 9th, 2024

Child Benefit May Create A Tax Charge For Those With High Income

Parents and carers need to be aware that if either of the couple have ‘adjusted net income’ in excess of £50,000 then the one with the higher income will potentially be charged tax on some or all of the child benefit and will need to request a self-assessment tax return to report the amount of […]

Read more September 4th, 2023

Use Tax-Free Childcare Account For Summer Holiday Clubs

Tax-Free Childcare accounts can be used to pay for approved childcare for children aged 11 or under, or 16 if the child has a disability. This can include paying for a summer holiday club or childminder. The account can also be used to pay nursery fees, or to pay for breakfast or after-school clubs in […]

Read more August 4th, 2023

Government Funding For Free Childcare

Nurseries are set to receive £204 million as part of the Government’s promise to deliver the largest ever investment in childcare. The plans, which were announced in the Spring Budget, are designed to remove barriers to support parents to return to work and help to grow the economy by making childcare more accessible. Every area […]

Read more July 17th, 2023

HMRC Challenging A Marketed School Fees Plan

HMRC frequently warn taxpayers that when a tax avoidance scheme looks “too good to be true”, it probably is. They publish “Spotlights” on their website to alert taxpayers of schemes being marketed by promoters that are under scrutiny, and, in their opinion, do not work. Tax avoidance schemes need to be notified to HMRC under […]

Read more July 6th, 2023

Back To School – Childcare Vouchers Or Tax-Free Childcare Account?

There continues to be poor take-up of the Government’s Tax-Free Childcare Accounts which provide a 25% subsidy towards the cost of childcare. The system operates by topping up savings of up to £8,000 per child by 25%, potentially an extra £2,000 from the Government to spend on qualifying childcare. The scheme applies to children under […]

Read more September 5th, 2022

Childcare Accounts Can Subsidise Summer Camps

If you have children under 12 who attend a nursery, after-school club, play scheme, childminder or you are considering sending them to a summer camp, you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account, contributing up to £2,000 for each child […]

Read more July 8th, 2022

Missing Out On Help With Childcare Costs?

The government are concerned about the lack of takeup of tax-free childcare accounts, with HMRC estimating that only about 25% of families eligible for the scheme had joined. With many parents returning to work following the pandemic, they should be encouraged to set up a tax free childcare account to help with their childcare costs. […]

Read more March 7th, 2022

HMRC Support With Childcare Costs

With more employees going back to work after the end of CJRS furlough support, they need to start thinking about childcare if they have children. If they haven’t already done so employees should set up a “Tax-Free” Childcare Account to help pay towards the cost of childminders, breakfast and after school clubs, nursery fees and […]

Read more October 11th, 2021

Tax Free Childcare Account Subsidises Summer Camps

If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account up to £2,000 for each child so […]

Read more July 12th, 2021

Time To Review Your Will?

Top of the to do list for many individuals is to make or update their will. Many think this is something to leave until later in life but it is important to get things in place once a property is acquired or when children come along. In the absence of a will, there are statutory […]

Read more January 13th, 2021

High Income Child Benefit Charges Not Valid

A recent tax tribunal has ruled against HMRC who were seeking to raise tax assessments for the High Income Child Benefit Charge (HICBC) for earlier years that had not been reported to HMRC. HICBC is a special tax charge that applies where one member of a couple in receipt of child benefit receives income in […]

Read more August 10th, 2020