Martin Lewis warns parents that they could be missing out on as much as £2,000 a year

Martin Lewis has urged parents to investigate their eligibility for tax-free childcare, which could net them up to £2,000 a year for each child to help with approved costs.

Speaking on Good Morning Britain, the money-saving expert advised that you can get ’20p in the pound’ towards your childcare costs, and stressed the importance of looking into the scheme.

Financial journalist and presenter Susanna Reid spoke to Claire Coutinho – the Minister for Children, Families and Welfare – about what can be done to raise awareness of the support for more families, calling the withdrawal rates ‘appalling’.

Families can get up to £500 per child every three months under the system – or £1,000 every three months (up to £4,000 a year) if their child or children are disabled.

Eligibility depends on your employment status, income, your partner’s income if you have one, your child’s age and circumstances, and your immigration status.

It can be used to pay for approved child care, including things like childminders, daycare centers, nannies, after-school clubs, and play schedules.

“So the take-up rate has really gone up in recent years,” Claire said.

“I think it was 172,000 a few years ago and it’s gone up to about 500,000, but there’s a lot more to do.

“So I would urge any parent who thinks they qualify to start looking at child care choices that will help you because it will give you significant savings on your child care.”

“I would repeat that, I would support it,” Martin added.

Parents can check their eligibility on the government website.

It comes as the savings-conscious professional has urged homeowners across Britain to check their meters before the new energy price cap comes into effect this week.

He advised his social media followers to take a new meter reading to potentially reduce how much they have to pay in the future.

The financial journalist and presenter Susanna Reid grilled Claire Coutinho – the Minister of Children, Family and Welfare (pictured)

Speaking on Good Morning Britain, the money-saving expert advised that you can get ’20p in the pound’ for your childcare and stressed the importance of looking at the scheme

Energy companies estimate the consumption of customers who pay by direct debit, so if you submit a new meter reading just before the limit change, you run less risk of their ‘estimates’ being against you.

It also prevents homeowners from receiving a bill that doesn’t reflect their actual usage and can help them challenge bills they believe are inaccurate.

The advice to check your meter does not apply to people with a smart or prepaid meter.

Mr Lewis wrote on Twitter: ‘IT’S METER READING WEEK! Prices are falling by an average of 17% this Saturday in Eng, Scot & Wal as the price cap decreases (more for higher users who have gas, less for lower electric only users).

‘Do you have a working smart/prepayment meter? You do NOT need to take a meter reading.

‘Pay by direct debit? Submit a reading. With monthly direct debits, companies estimate your usage and allocate it to a specific time period, so if you submit a measurement within a few days of the change (many also let you date back a few days), you reduce the risk that their’ estimate’ goes against you (although there is always a chance that a discrepancy will work in your favour). Take a picture of the meter for belt ‘n’ braces.’

The energy price cap sets a maximum price that energy suppliers are allowed to charge consumers for each kilowatt-hour (kWh) of energy they consume. How much you pay depends on how much energy you use.

Calculated by Ofgem, the government regulator for energy suppliers, the cap ensures that the profits made by energy suppliers are capped.

Martin recently urged homeowners across Britain to check their meters before the new energy price cap comes into effect this week. This month’s photo

From 1 July 2023, the energy price cap will be set at an annual level of £2,074 for a dual-fuel household paying by direct debit based on normal consumption, reflecting the recent declines in wholesale energy prices.

The July price limit reduces last quarter’s limit and reduces the amount customers will pay on their bills.

Campaigners have said the lower limit is unlikely to provide much relief to households that have already struggled to pay their bills over the winter as government support schemes have ended.

Ofgem’s price cap has increased from £1,162 per annum for an average household in August 2021 to its current level of £3,280.

The price cap is applied to customers with a standard utility tariff, whether you pay by direct debit, standard credit, prepayment meter or have an Economy 7 (E7) meter.

Ofgem’s price cap does not set a maximum amount on how much a household will pay for their energy.

The price cap instead limits the amounts of money providers are allowed to charge their customers per unit of gas or electricity, meaning those who use more energy pay more.