It is no secret to parents that daycare prices can put pressure on family budgets. If you’re planning to return to work, it’s important to find an affordable nursery and budget carefully for daycare prices. You should also claim all the help that you are entitled to. However, the support available can be a little confusing so we’ve put together a helpful blog that has the information you need.
The childcare that you’re entitled to will depend on the age of your child and your family’s circumstances.
1. You have a child aged three or four years old
If you have a child aged three or four years old and you live in the UK, you can receive up to 30 hours free every week. You are entitled to 570 hours of free childcare a year and this is usually taken at 15 hours a week for 38 weeks of the year. To qualify for the full 30 hours, you must earn a minimum of the equivalent of 16 hours a week at the national living wage and less than £100,000 a year.
2. You have a child aged two and you receive universal credit
Once your child turns two years old, some households qualify for funding. If your household income is below £40,000 then it’s worth checking whether you are eligible for universal credit as this option will help considerably with daycare prices.
3. You have a child aged one or two and you don’t receive universal credit
Once maternity pay ends, the next available option for working parents with children under three and not on benefits is Tax-Free Childcare. Tax-Free Childcare is a government-backed scheme that helps working parents with the cost of childcare.
The scheme, launched in 2017, gives eligible families an extra 20% toward their childcare costs. For every 80p that you put in the government tops up 20p, effectively giving you back the tax that you would pay on your daycare prices.
Tax-Free childcare is available to single parents and couples. However, for a couple, both parents need to be in work to qualify and both must earn less than £100,000 individually to qualify. The scheme can be used to support daycare costs for children aged up to 11 years old.
Are you looking for an affordable nursery in Hedge End or Eastleigh?
Little Acorns Day Nursery offers reasonable daycare prices in Hedge End and Eastleigh, providing a holistic, warm, and welcoming environment that caters to every child’s needs. Whether you’re looking for affordable nursery daycare for babies, toddlers, or preschool-aged children, we ensure each child’s emotional, educational and developmental needs are met. We also hold ‘outstanding’ and ‘good’ ratings by Ofsted so you can be sure your child will be in the right place. Visit our website to contact us and learn more about our services.
