Getting paid on time!
Tips to ensure your invoices are paid on time. Getting invoices paid on time is always crucial for your business, but never more so than now! Having regular incoming payments
Tax-Free childcare
You can receive up to £500 every 3 months (£2,000 a year) for each of your children to help with the costs of childcare. If you qualify the government will pay £2 for every £8 you pay your childcare provider via an online account. They must be signed up to the scheme before you can pay them and benefit from Tax-Free Childcare.
If you’re eligible for 30 hours free childcare you can get both.
Eligibility
To be eligible both you and your partner (if applicable) must:
You’re not eligible if:
If you’re on parental leave, you cannot apply for the child you’re on leave for.
You may still be eligible if your partner is working, and you get Incapacity Benefit, Severe Disablement Allowance, Carer’s Allowance or Employment and Support Allowance.
Your child
Your child must usually live with you and be under 11 years old, their eligibility stops on 1 September after their 11th birthday.
Adopted children are eligible, but foster children are not.
If your child is disabled you may get up to £4,000 a year until they’re 17. They’re eligible for this if they:
If you get tax credits, Universal Credit or childcare vouchers
You cannot get Tax-Free Childcare at the same time as claiming Working Tax Credit, Child Tax Credit, Universal Credit or childcare vouchers.
Your situation will dictate which type of support is more beneficial. There is a childcare calculator which will help with this. (https://www.gov.uk/childcare-calculator)
If you are eligible and apply for Tax-Free Childcare, any Working Tax Credit or Child Tax Credit will stop straight away, although childcare vouchers can continue up to 90 days.
HMRC has further guidance online.