United Kingdom – New Childcare Tax Provisions to Help Millions of Families

United Kingdom – New Childcare Tax Provisions to ...

A new tax-free childcare scheme was announced by the U.K. government on March 18, 2014, in advance of the 2014 Budget Statement. The proposals announced contain changes as compared to what had been articulated in the Autumn Statement, such as higher relief and more children covered. The government believes that the costs associated with childcare act as a “significant disincentive to work.” The measures will potentially affect employees working outside the U.K. whose families remain living in the U.K. and where the spouse also works. There are also potential consequences for employers in terms of administering the scheme for their employees and employers will need to consider how the scheme could operate for their employees.

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