Yes! All children are entitled to a free place at nursery, but there are some limitations. So here is a brief outline of how to qualify for a free nursery place, and a few ideas for saving money on your childcare costs.
Many parents find themselves in the position of weighing up whether returning to work after a baby is financially viable. I’ve certainly come across parents (particularly mums) who have found that their earnings don’t contribute much to the household once childcare costs have been deducted. Not an easy decision to make and one that although shared by many, depends so much on your personal circumstances.
However there is some help available which when combined can make a significant difference to your overall outlay on childcare.
Free Childcare for 3-4 Year Olds
All children aged 3-4 years old in England are entitled to Early Year Entitlement (EYE) for 15 hours per week, 38 weeks of the year (term times). However at Naturally Curious Childcare we also offer a stretched version of 11 hours per week over 51 weeks.
EYE has been designed to ensure that as many children as possible get some formal Early Years education before they start infant school. We think that it’s really important for children to experience the social setting of a nursery before they go to “big” school; and it gives your child a good understanding of the basics used at school, from learning to put their hand when answering a question to taking turns and building friendships.
15 hours per week may not wipe out your childcare costs entirely, but it can certainly contribute a significant reduction in your weekly payments. One popular misconception is that EYE can only be used in preschool settings. Not true! All day nurseries, childminders and other registered childcare facilities accept Free Entitlement Funding.
Funding For 2 Year Olds
Whilst all 3-4 year olds are entitled to EYE, free early years education for 2 year olds (FEET) is also available for some youngsters. This scheme is being extended from September 2014 so that more families will qualify. Click on this link to our 5 Ways To Save Money On Your Childcare to see whether you meet the criteria.
Childcare Element Of Working Tax Credit
If you receive Working Tax Credit (not Child Tax Credit, although you may receive this too), you may qualify for Childcare Tax Credit. If you do meet the requirements you could save around £3,000 per year, making returning to work that much easier. Once again our 5 Ways To Save Money On Your Childcare has further details about the criteria for eligibility.
Childcare Voucher Scheme
Has your employer signed up for the Childcare Voucher Scheme? This is a real money saver because your employer takes an agreed amount out of your pre-tax salary and gives you the equivalent in childcare vouchers. This means you don’t pay tax on the money you spend on childcare.
Although the amount of vouchers you are entitled to is capped at £243 worth per month, both parents can get this allowance so the savings can really add up.
If your employer is not in the scheme why not point them in the right direction? There’s an incentive for them too because they will not have to pay National Insurance on the value of the Childcare Vouchers. Share this link with your boss: Employers Why Childcare Vouchers
Care2Learn
For students under 20 there is help through the Care to Learn scheme. Although limited to courses that receive some public funding this can include schools, sixth forms and sixth form colleges. If you are starting a course this September you must get your application in quickly, 28 days before the start of your course. At Naturally Curious Childcare we are happy to help any of our parents identify and apply for funding, so speak to us if in doubt.
Some colleges will also assist with childcare costs so contact your training provider to find out if they can help you financially.
If you want more detail on any of the above schemes download 5 Ways To Save Money On Your Childcare. For further assistance a great website that helps identify other benefits or allowances you should be receiving is entitledto.co.uk.
Got a question? We’ve had years of experience filling in application forms and scrutinising criteria for various funding allowances so if you have a query pop it in the box below and we’ll get back to you.