HMRC payout of up to £4,000 available with code but you must act this week
A lesser-known code issued by HM Revenue and Customs (HMRC) could give you an annual sum of between £2,000 and £4,000, but you must apply this week. The Tax-Free Childcare scheme, administered by HMRC, offers parents payments ranging from £500 to £1,000 every three months, up to a yearly maximum of £2,000 or £4,000.
This scheme provides parents with a significant contribution towards nursery care costs, and can also be used to fund nurseries, nannies, after-school clubs and play schemes. To claim the money, you need to set up a Tax-Free Childcare account by Saturday, August 31.
HMRC will then send you a code which you give to your childcare provider, such as a nursery, who can then claim the money. Most nurseries incorporate the money into their charges, so for example, a nursery costing £100 a day would be reduced to £80 a day using the money, up to a maximum of £2,000 off your bills for the year.
If your child is disabled, the government doubles the money to £4,000. To qualify, you must be working and your child must be over nine months old by August 31 to apply for the cash this coming school term.
Even if you aren’t working, you may still be eligible if you claim a benefit like Incapacity Benefit, Severe Disablement Allowance, Carer’s Allowance or Employment and Support Allowance, reports the Express.
To be eligible, you must be in employment and earning at least £2,379 over the next three months if you’re aged over 21, which equates to the National Minimum Wage for 16 hours per week on average.
The government states: “Your child must be 11 or under and usually live with you. They stop being eligible on 1 September after their 11th birthday.”
Time is running out for individuals eligible for an HMRC payout of up to £4,000. The government is offering this substantial financial relief to those who qualify, but to take advantage of this opportunity, you must act quickly. The payout is accessed through a specific code, which claimants need to use to secure their payment. The deadline to apply is fast approaching, making this the final week to claim what could be a significant financial boost.
This payout is part of a broader effort by HMRC to provide support to eligible individuals facing financial challenges. However, missing the deadline means losing out on this opportunity, so it’s crucial for those eligible to act immediately. Whether it’s covering unexpected expenses or providing some financial breathing room, this payout could make a significant difference. Ensure you don’t miss out—check your eligibility, obtain the necessary code, and submit your claim to receive the payout before the window closes this week.
“Adopted children are eligible, but foster children are not.”
“If your child is disabled and usually lives with you, you may get up to £4,000 a year until 1 September after their 16th birthday. They’re eligible for this if they: get Disability Living Allowance, Personal Independence Payment, Armed Forces Independence Payment, Child Disability Payment (Scotland only) or Adult Disability Payment (Scotland only; are certified as blind or severely sight-impaired.”
You must also be a legal UK resident with a National Insurance Number.
