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!
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.