Anyone any idea how tax free childcare works

[taxfreechildcare]

Childcare bill is £833.40. Government are meant to pay 20% on top of whatever you pay in.

So I'd pay in £694.50, they pay £138.90? Right?

So why did they pay in £178.46.

Trying to find a gov calculator online but there doesn't seem to be one.

If you bill is 833.40 you should pay in 666.72 which is 80% of the total. Top up will then be 166.78 which takes you to your total required.

You paid in 694.50 which is 83% of your total not 80%.

You need to divide 833.40 by 5
That gives you 166.68 20%
Then times 166.68 by 4
667.72 that’s what you pay in. Your sums are wrong that’s why you have got more money.

Hi. They pay £2 for every £8 you in.
694.50÷8×2= 173.62

I usually take the bill amount and times it by .8 to see what I need to pay so £833.40x.8= £666.72. Gov will top up £166.68.

666.72÷8×2=£166.68

Does that make sense?

I completely over complicated it! Thanks

Always multiply your bill by 0.8 to woke out what you need to pay into your account.

It's worth noting that you get the top up on £2000 you pay in per quarter, so if you have bills that change over the year (we're on term time contract) you can maximise the gov contribution by paying the same in each month, even if outgoing varies.