If you’re a family who needs to send their children to nursery in order to bring in that much needed income or just to help your child get off to the best start with their learning and social development, you may be wondering whether there is any funding available to cover some of the costs of childcare.
For more and more families childcare is essential and we’re running through your options and whether you’re eligible for the latest government funding for early years childcare and how much you could expect to save.
- 15 hours free childcare per week (available for ALL 3 & 4-year-olds)
All 3 and 4-year-old children in Peterborough can receive up to 570 hours of funded childcare per year. The good news – you don’t need to apply for this entitlement because it’s classed as a universal entitlement available for all children aged between 3 – 4. Your chosen nursery should take care of making sure your child receives 15 hours of free childcare.
- 30 hours free childcare per week for 3 & 4 year-olds (available for eligible families in work)
Here are a few basic criteria to help you figure out whether or not you’re eligible for an extra 15 hours of childcare funding.
>You or your partner must be earning a taxable income of less than £100,000.
>You must earn a minimum of £142 per week.
- Tax-free childcare
Working families can also apply for tax-free childcare too. For every £0.80 a parent pays into an account, the government will contribute £0.20. You can apply for tax-free childcare through the official government site. Simply follow the step-by-step instructions.
How much funding could you receive?
You could receive up to £2000 funding per child each year, tax-free. That is certainly a huge saving which could make all the difference for some families.
The good news is that everyone is eligible for the 3 – 4 year old FREE childcare. But if you’re eligible for other childcare funding schemes it’s worth knowing about. Check with your nursery today to see which funding they offer and apply through the GOV.UK website.