Churchill Financial Advisor Newsletter 3

Back-to-work mums left out of pocket (Churchill Financial Advisor)

Mothers of young children returning to work face huge financial penalties, says the Sunday Times. The cost of childcare is so high that a mother of two youngsters needing full-day nursery care needs to earn over £40,000 a year to be left with a surplus after all the bills – including tax – have been paid. However, those childcare costs should fall next year when a new system will provide a subsidy of up to £2,000 per year per child.

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