CBC's AUTUMN TIPS
SEISS GRANT no. 5
The deadline to claim this is fast appraching. And if you do want to claim, you will need to know your sales figures for the last 2 tax years (even though the 2020/21 tax return deadline for filing is still months away - 31st January 2022.
Remember that these grants ARE taxable and must be included in your self-assessment tax returns. If your profits are over the tax-free allowance, you will pay tax at 20% and NI at 9% on the grant amount received.
See my previous newsletters dedicated to this subject (one sent earlier this week).
Please get in touch if you have any questions about this email@example.com
30 HOURS FREE CHILDCARE
You may be able to get 30 hours free childcare if you live in England and your child is 3 to 4 years old
NB. There are different schemes in Scotland, Wales and Northern Ireland.
9 things that catch out the newly self-employed
The childcare must be with an approved childcare provider and stops when your child starts in reception class (or reaches compulsory school age, if later). You may have to pay for extra costs like meals, nappies or trips. You can apply online for a childcare account to get a code for 30 hours to give to your provider. 30 free hours
You can get 30 hours of free childcare per week for 38 weeks of the year (during school term time). You may be able to get free childcare for 52 weeks if you use fewer than 30 hours per week. Check with your childcare provider to find out if this is something they offer.
Your eligibility depends on all the same factors as Tax-Free Childcare as per point 1.
You can apply from when your child is 2 ¾ years old. You are entitled to 30 hours free childcare the term after your child turns 3. Check with your childcare provider to find out the exact date your 30 hours free childcare starts.
You have to reconfirm your eligibility every 3 months. If you apply more than 3 months before the term starts, you’ll have to reconfirm your eligibility in your account in order to keep your code valid.
If you are applying for 30 hours and someone else already claims Tax-Free Childcare for that child, your application will be unsuccessful.
Once your application has been approved, you’ll get a code for 30 hours free childcare to give to your childcare provider.
I have recently discovered first hand that you CAN get 30 free hours childcare at the same time as getting Tax-Free Childcare which is a double bonus :-)
I'm currently claiming the 30 free hours for Imogen, so if you need any help with any aspect of it, please send me an email firstname.lastname@example.org
See my full family friendly tax tips article here:- My 5 family friendly tax tips | LinkedIn