New childcare scheme
Posted on 19 Aug 2020
Some parents in the UK will be able to claim back up to £1,200 a year for each child - or 20% of childcare costs - from 2015, under government plans, reports chartered accountant Harris & Co.
Parents will be allowed to claim back 20% out of a total of around £6,000 - what they believe to be the average annual price of a childcare place.
Initially, it will cover children up to five years old, but will build up "over time" to include all children under 12.
But Labour said parents would be disappointed not to get help sooner.
Britain has some of the highest childcare costs in the world, with many people with two or more children saying it does not make financial sense for both parents to work.
Prime Minister David Cameron said the plans, expected to cost £1.4bn, would be a "boost direct to the pockets of hard-working families".
