The government announced that 250,000 two-year-olds from lower income families will get free childcare.
In his autumn statement, the chancellor said more two-year-olds would qualify for free childcare. How will the scheme work?
The autumn statement had a number of headline announcements that had little additional detail. One of those was the news that around 260,000 two year olds from lower income families would be entitled to 15 hours free childcare a week (an increase of around 130,000 on the government's current free childcare plans). Several of you got in touch to ask for more information and this is what I’ve been able to find out:
If you want to lend money to family or friends what do you need to know?
A new report says that families are giving or lending over £440 a year to each other. Here’s a family finance survival guide.
According to the insurer Aviva, almost a third of families provide financial support to each other or to close friends. On average, it adds up to £440 a year, but interestingly, single parents were likely to give the most. Over the last few months the ‘ask the expert’ panel has received a number of questions from people who want to give money to friends and family or who’ve lent money (sometimes to find it’s not been repaid). So how can you support your family by lending or giving cash?
The government’s new tax free account for children, the junior ISA, goes on sale on November 1st.
How will the Junior ISA work, how much can you save and who can have one? Here's a guide.
Updated November 1st
From November 1st children who don’t already have a child trust fund will be able to open a junior ISA. The junior ISA is the government’s new tax-free savings plan which is replacing the child trust fund (abolished by the government in January). The principles are similar to child trust funds, in that parents, relatives and friends will be able to pay in up to £3,600 a year between them, money can’t be accessed by the child until they reach 18, and when the account is cashed in, there’s no tax to pay.
