Start as you mean to go on with your first new year’s resolution – find out what financial support your family may be entitled to.
We know that Christmas will have been an expensive time for parents, with presents to buy and socially distanced family celebrations to plan. For some families, this may have been even more challenging than usual due to a reduction in household income as a result of COVID-19.
Financial support with childcare costs
Now is the time to check the support you are getting with childcare costs. There are four main types of support with registered childcare costs – Tax Credits, Universal Credit, Childcare Vouchers and Tax-Free Childcare. The support that was best for you last year may no longer be your best option this year if you’ve had a change in your household circumstances, whether it’s a reduction in income due to furlough or an increase in your childcare costs due to grandparents no longer being able to offer informal childcare. Now is the time to check what your entitlements are.
Childcare Vouchers
If you are a member of the Childcare Voucher scheme have you made sure to make at least one payment from your salary into your account within the last 52 weeks? If you’ve been on furlough and unable to sacrifice into your account have you looked into backdating your payments to make the most of your annual allowance?
COVID-19
COVID-19 has had a massive impact on everyone’s lives. If you are on furlough or receiving a payment from the Self-Employed Income Support Scheme do you know what impact this may have on financial support you are accessing or entitled to?
Here to answer your questions
Simply give Employers For Childcare’s Family Benefits Advice Service a call on Freephone 0800 028 3008 (Monday to Friday 10am to 4pm) and one of the trained advisors will be able to calculate exactly what support you may be entitled to. They provide advice and guidance on a wide range of support including Tax-Free Childcare, Universal Credit, Tax Credits and advice on how the new government assistance schemes work.
So ahead of the long wait to January’s pay day, give the team a call. They will be delighted to hear from you, and to help you get 2021 off to a good start!