£1.7 billion in unclaimed childcare benefits in UK

In the UK, families are missing out on up to £1.7 billion in childcare benefits. This money remains unclaimed for various reasons, making it one of the least claimed benefits in the country. There are four main types of childcare benefits available. These include Tax-Free Childcare, Child Benefit, Childcare-Funded Hours, and Universal Credit (Child Element). Each has its own eligibility requirements, which can confuse families. Tax-Free Childcare helps cover childcare costs for children under 11 years old or under 17 if disabled. Families can receive up to £2,000 a year, or £4,000 for disabled children. To qualify, both parents must work and earn at least £2,379 every three months. If you earn over £100,000, you cannot claim. Child Benefit is a weekly payment to assist with child-related costs. It is available for children under 16 or under 20 if they are in approved education. Payments change depending on how many children you have. If you earn over £60,000, you may need to pay extra taxes but can still claim. Childcare-Funded Hours provide 15 or 30 hours of free childcare weekly for children aged nine months to four years. Eligibility depends on whether parents are working and earning a minimum income. In September, new rules will allow more families to access 30 hours of funded childcare. Universal Credit is a payment for low-income families or those out of work. It replaces Child Tax Credit and allows families to claim back 85% of childcare costs if they work. Universal Credit and Tax-Free Childcare cannot be claimed at the same time, but both can be claimed with Child Benefit. To find out what benefits you may be eligible for, use an online benefits calculator. Make sure to check soon, as you need to apply within 28 days of creating an account for some benefits.