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Wednesday, 31 August 2016 20:52

Back to school and Tax free childcare

Back to school (at last)!

 

Every parent knows that the summer holidays can be really taxing when it comes to childcare!

For most of us that means juggling work commitments, and relying on family and friends. 

It can also mean paying for private childcare.

Now that the summer holidays are coming to an end and it’s time to head back to school, there is some really good news for parents who do pay for private childcare.

Tax-free childcare is coming!                                        

Childcare will never be stress free, but from 2017 it will be tax-free.

There are some big changes being made to make childcare much more affordable for working families. 

Tax-free childcare will be available to around 2 million households.

How will it work?

Tax-free: when you pay in 80p, 20p gets added to the pot.

 

For every 80p you pay in, the Government will pay in 20p (up to £2000 per year, per child).

 

That means that 20% of childcare costs will be covered by the Government topping up the amount you pay in (it gets the name “Tax-free” because the 20% is the equivalent of the tax amount most people pay).

The scheme is available for children up to the age of 12 (or 17 in the case of disabled children).

 

Tax-free childcare: who qualifies and what you need to do

To qualify parents will have to be in work, and each earning around £115 a week, and not more than £100,000 each per year.

  • You can apply for this directly and set up an online account which you can pay into to cover the cost of childcare with a registered provider.

  • Your online account will be set up through the Government website GOV.UK

  • Not only can parents pay into this scheme, but other family members can too.
  • You don’t have to do this through an employer.

  • You can do this if you are self-employed.

There is a really helpful summary about Tax-Fre childcare on the government website.

For more detailed information take a look at Tax-free childcare 10 things parents should know

As always, I am here to help you navigate through tax issues. If you need any advice on this, or on other matters, then please drop me a line.

 

 

Exclusive offer

 

I did say that it’s almost time for school to start again. If you haven’t yet bought school bags or lunch boxes I have an exclusive offer for you.

Readers of my blog can also take advantage of a 10% discount code on children’s backpacks and lunch boxes at Bag Boutique. Please email me at This email address is being protected from spambots. You need JavaScript enabled to view it. for details.

 

Published in Our Blog
Friday, 29 March 2013 19:20

Ivy Wood Bookkeeping & Accountancy 2013

The start of a New Year for a lot of people normally symbolises a fresh start– New Year resolutions such as sticking to the diet, joining the gym, saving money or quitting smoking I’d imagine are popular choices… But is that enough? Or is that even what you really want?

My New Year resolution for 2012 was to work a few extra hours and start saving towards a deposit for a new house. It only lasted a few weeks because by the end of January I was faced with redundancy, luckily I am a believer that everything that happens, happens for a reason. My plans soon changed and I found myself setting up my own business and I just took the rest of the year day by day as it come – the good and the bad.

Ivy Wood Bookkeeping has been up and running now for just little over 9 months – We now have an AAT practice license, a client base continually growing at a steady and manageable pace, web presence and a strong business network offering vast amounts of support (of which I am thankful).

My New Year resolution for 2013 is to continue building up Ivy Wood Bookkeeping starting with a new and improved logo, website and marketing material all to be revealed around our 1st birthday in the Spring. It’s all very exciting and I’m not going to reveal anything just yet – You’ll just have to watch this space! Oh and I almost forgot –I am determined to start saving towards that deposit this year.

If one of your New Year resolutions for 2013 was to be more organised and keep your bookkeeping up to date then why not give us a call today to see how we can help you? We’ll even give you a 10% discount for 3 months if you call us by 31st January quoting ‘NEW010’.

And if 2013 holds that new start (like 2012 did for me) and you’re thinking of setting up in business, we’d like to make things easier for you. With a ‘complete accountancy’ package soon to be launched we can take care of all of your bookkeeping and accountancy needs including VAT returns, payroll and self-assessment for a fixed monthly fee based on your individual circumstances. All new start-ups will also receive a 10% discount on their first set of annual accounts.

So to end this blog – We would like to wish you all a Happy New Year, cheers to 2013!!

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Ivy Wood Bookkeeping & Accountancy
Dean Street,
Newport,
NP19 7FD

07849 718662
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"Iona has done a wonderful job - not only last years books, but getting us ready for this year. A big thank-you! It's helped us a lot in our day-to-day planning and work".

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