Financial Support

As Head of the Class is OFSTED registered, parents who enrol their children onto programmes at Head of the Class may be able to obtain assistance with the costs under the Childcare Element of Working Tax Credit.

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This means that subject to assessment by HM Revenue & Customs, parents may be able to get up to 70% of their fees reimbursed! This means our services can become accessible to those who might not previously been able to afford it and guarantees parents can give their children the best education possible without worrying about the financial implications.

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For you to be eligible for receive the Childcare Element of Working Tax Credit should you enrol your child at Head of the Class, you need to be working 16 hours or more a week. If you are part of a couple, you both need to be working 16 hours or more a week. You can only claim childcare costs for any child up to the Saturday following 1st September after their 15th birthday.

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The maximum amount of help you may receive is as follows*:

 

No. of children  /  Weekly limit  /  % help /  Maximum Tax Credits

 

One child               £175                  70%           £175 x 70% = £122.50

Two+ children        £300                  70%           £300 x 70% = £210

 

*Correct as of 6th April 2011. For the latest figures, please refer to the HMRC website.

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Please note that your dealings with Head of the Class remain the same. Fees must still be paid in advance to Head of the Class even if you are claiming or about to claim for Working Tax Credit. Reimbursement of fees must be sought from HMRC, not Head of the Class.

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To make a claim for the Childcare Element of Working Tax Credit, please phone the HM Revenue & Customs Working Tax Credit Helpline on 0845 300 3900 which is available from 08.00 to 20.00 seven days a week.

 

For further information, guidance and to ensure that you have the very latest information, please see https://www.hmrc.gov.uk.

 

You may find leaflet WTC5 (Working Tax Credit – Help with the costs of childcare, 6th April 2011: A guide explaining help with the costs of childcare for parents) particularly helpful. Click the following link to view https://www.hmrc.gov.uk/leaflets/wtc5.pdf.

If you pay for childcare while you go to work, Universal Credit can pay some of your childcare costs. This includes holiday clubs, after-school clubs and breakfast clubs. If you live with a partner, you both need to be working, unless your partner cannot look after your children.

 

You can get up to 85% of childcare costs paid back to you.

The maximum amount a month is:

• £646.35 for one child

• £1,108.04 for 2 or more children

 

How it works

Speak to your work coach at Universal Credit first.

You have to pay for your childcare costs yourself. Then you report them to Universal Credit, and Universal Credit pays some of the money back.

You will only get the money back after the childcare actually happens.

If you pay for childcare after it’s been provided, we pay back your costs in the same month that you report them.

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You can claim back up to 3 months of past childcare costs at a time - but if you’re claiming for more than one month you might not get all the money back. You can also claim back up to 3 months of future childcare costs at a time. Universal Credit pay these costs back month by month - not in one lump sum. Payments for childcare costs are included in your total monthly Universal Credit payment.*

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*https://www.gov.uk/guidance/universal-credit-childcare-costs

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Please note that your dealings with Head of the Class remain the same. Fees must still be paid in advance to Head of the Class even if you are claiming or about to claim for Childcare support via Universal Credit. Reimbursement of fees must be sought from Universal Credit, not Head of the Class.

Childcare Vouchers are a form of ‘employer supported childcare,’ a popular scheme which an increasing number of employers are adopting. This scheme works via salary sacrifice where an employer pays the employee partially in the form of Childcare Vouchers up to a value of £243 per month.

 

These Vouchers are both tax and National Insurance free, thus greater in value than the cash equivalent, and can be used to pay for approved services. As Head of the Class is OFSTED registered, these Vouchers can be used here.

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It may be possible for you to save up to £933 per year as a basic rate taxpayer and up to £623 (£1,225 if you joined the scheme on 5th April 2011 or before) per year as a higher rate taxpayer* by using these Vouchers. Moreover, both parents can receive Childcare Vouchers from their respective employer to use towards the tuition fees and therefore double the saving. The only requirement for you to take advantage of this scheme is that your child is aged 15 or under and that your employer is signed up to be part of it.

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* correct as of 6th April 2011

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There are a wide range of these schemes currently running operated by a variety of different providers. We are currently registered to accept Childcare Vouchers from Edenred (www.childcarevouchers.co.uk) but will happily look into accepting vouchers from other providers too.

You can get up to £500 every 3 months (up to £2,000 a year) for each of your children to help with the costs of childcare. This goes up to £1,000 every 3 months if a child is disabled (up to £4,000 a year).

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If you get Tax-Free Childcare, you’ll set up an online childcare account for your child. For every £8 you pay into this account, the government will pay in £2 to use to pay your provider.

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You can get Tax-Free Childcare at the same time as 30 hours free childcare if you’re eligible for both.

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You cannot get Tax-Free Childcare at the same time as claiming Working Tax Credit, Child Tax Credit, Universal Credit or childcare vouchers.

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Apply via HMRC https://www.gov.uk/tax-free-childcare