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Tax Free Childcare

(6 Posts)
kmini Mon 16-Sep-19 14:30:44

Two questions which I could really do with clarification on:
- Firstly can you pay private school fees with your tax free childcare account?
- I currently have a little girl at nursery and I normally pay her fees via direct debit. I hadn't realised the tax free childcare benefits. Can anyone clarify for me how it all works. Do you pay the invoice minus 1/12 of £2000? I am a little befuddled!

kmini Mon 16-Sep-19 14:34:11

Just realised I didn't say thank you! Very rude. Appreciate any help!

SomethingPhishy Mon 16-Sep-19 14:41:48

This will answer some of your questions. It's for 'approved childcare' so not private school fees.
You open an account & deposit your funds, the government then tops it up by 20%. You add the childcare provider to your list of payers & pay them from the childcare account. I have only done one off payments but there are options to set up regular payments. You can have a maximum of £500 top up per quarter. Hope this helps a bit, once you have the account set up, before you put money in, there is some good info on how it works.

kmini Mon 16-Sep-19 16:35:45

Thank you. Very much appreciated

nannynick Tue 17-Sep-19 06:10:35

Maths wise, if you paid in £1000 then topup is £250, so 25% of that you pay in. £1250 *0.8=£1000
Max topup is £500 per 3 month period, per eligible child.

With regard to paying the school I would ask the school. For a reception or nursery it might be possible but not for older children.

kmini Tue 17-Sep-19 14:19:21

Thank you

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