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Can I reduce my payment on account due at the end of July?

Yes, you can if you think that your tax liability for 2017/18 is less than last year.

Be careful though, if you reduce your payments on account by too much HMRC will charge you interest later on the tax you should have paid on account. The easiest way to avoid this is to get your tax return finalised and submitted before 31 July so you know exactly what your liability will be.

How can I pay for childcare?

There are two options available at the moment – childcare vouchers or tax-free childcare. Yes, it’s confusing and here’s a link to our two factsheets with more detail on both of the schemes:

Employer supported childcare factsheet

Tax free childcare factsheet

The childcare vouchers scheme has been extended to new applicants until 5 October 2018.

As a rule of thumb, those with fewer children and lower childcare costs benefit more from the voucher scheme, whereas those with more children and therefore greater costs are better off using the tax-free childcare account.