Nursery World - Spring Budget 2017: Tax-Free Childcare to start from April

Tax-Free Childcare will start next month and be rolled out to all eligible parents by the end of the year, Chancellor Philip Hammond announced in his first Budget today.

He said that this would save parents up to £2,000 per child per year.

In response to widespread concerns about the effect of rising business rates from April, the Chancellor said that those businesses that will be taken out of small business rate relief for the first time will benefit from an extra cap, which means that they will not see an increase to their rates of more than £50 a month.

In addition, £300m will be allocated to local authorities for a discretionary fund for ‘hard cases in their area’.

The chancellor also announced changes to National Insurance Contributions.

He said that the differences in NICS contributions of the self-employed and employed were no longer justified because the new state pension had removed the disparity between them and they used public services in the same way.

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